Tanzania: World Bank gives grant for poverty reduction programme

The World Bank has approved a massive $200 million grant to the Tanzanian government towards its poverty reduction programme. The Fourth Poverty Reduction Support Credit (PRSC-4) is aimed at helping the government provide incentives to implement key economic, social and institutional reforms to strengthen the overall performance of the economy and contribute to poverty alleviation. A key outcome of the reform programme, which is also supported by 13 other donors, over the period 2006-2010, is to sustain high rates of economic growth in the range of 6-8 per cent annually. If achieved, the World Bank says that this will "translate into a significant reduction of poverty incidence in the country."