Connect with us

Kitaifa

USAID head underscores key role of PPPs in growth

Dar es Salaam. The United States Agency for International Development (USAID) has said the US government is looking beyond public sector financing, underscoring that Public-Private Partnerships (PPPs) will accelerate economic growth in Tanzania.

USAID is therefore encouraging local banks with the capacity to finance projects executed under PPPs framework at friendly interest rates.

USAID head Samantha Power made the remarks at the weekend during a roundtable with media organisations as she was concluding her visit to Tanzania.

“Our ambition is to see Tanzania move from aid to trade through human capital, dedication, and entrepreneurship among others,” she said.

During the event, she announced an additional $5 million for Tanzania being part of the US government’s funding to address the global food crisis that has been exacerbated by the Russia-Ukraine war and severe drought in the Horn of Africa.

“We have committed $5 million to Tanzania in partnership with Global Food Crisis Funding (GFCF) for Tanzania that will help at saving lives through emergency interventions and mitigation,” Ms Power said.

The above crisis including Russia-Ukraine war and drought at the Horn of Africa cause increases in poverty, hunger, and malnutrition due to the increase in prices of food, fertilizer, and fuel.

According to her, the new funding will be provided through Feed the Future, the US government’s global hunger initiative.

Ms Power said in order to overcome immediate food insecurity challenges and strengthen food systems, therefore withstanding the new shocks, Feed the Future is expanding efforts to transform world growth, its development and beneficiaries.

Furthermore, she said additional resources will be invested strategically to align with Tanzania’s ongoing effort to combat food insecurity.

“It will further Tanzania’s ability to domestically manufacture, blend, and export traditional and organic fertilisers.

“It will also support the generation and availability of wheat and sunflower seeds and greater efficiency in agricultural production through reduced food loss and waste,” Ms Power added.

According to her, the investment will reduce Tanzania’s reliance on international markets and promote food security throughout East Africa.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Telephone: +255 653 313 586 | Email: mhariri@chechetimes.com. | Address: 14216 Keko Magurumbasi