Announcement of IDA Provides Eleven Million US Dollars to Tanzania for Second Technical Assistance Project on October 23, 1980

-FOR IMMED1ATE RELEASE •World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 IDA NEWS RELEASE NO. 81/9 October 23, 1980 IDA PROVIDES SOR 8.4 ($i1 MILLIO~TO TANZANIA FOR SECOND TECHNICAL ASSISTANCE PROJECT The International Development Association (IDA), the World Bank's affiliate for concessionary lending, has approved a credit of SOR 8.4 ($11 mil 1 ion) to Tanzania for a Second Technical Assistance Project. Under the project, consulting services and training will be provided to increase the capacity of the Government of Tanzania to prepare and implement development projects. Pre investment, capacity util i~ation and export market- ing studies will be undertaken and financed. In addition, detailed engineer- ing studies will be financed for high-priority projects in the industrial, agricultural, energy, and other sectors of the economy. Project preparation, implementation, evaluation, and accounting and auditing will be strengthened through training provided to Tanzanians in the Tanzania Investment Bank and the • Tanzania Audit Corporation . The Tanzania Investment Bank wi 11 be responsible for implementing this project as with the First Technical Assistance Project which was supported by a $6 million IDA credit in 1975. Because of the urgent need to increase capa- city utilization in the industrial and agricultural sectors in Tanzania and to develop a more export-oriented industrial sector in the long run, the Tanzania Investment Bank intends to concentrate on efficiency improvement and export promotion studies under this project. The $11 mill ion IDA credit to Tanzania is for 50 years, including 10 years of grace. It is interest free except for a 3/4 of 1% service charge to cover IDA's administrative costs. The Government of Tanzania, the Tanzania Invest- ment Bank, and other agencies will contribute $3 mill ion to the $14 mil 1 ion total cost of this project. NOTE: IDA credits are denominated in SDRs (Special Drawing Rights), which are valued on the basis of a 11 basket 11 of currencies. The U.S. dollar equiv- alent of the SOR amount of the IDA credit reflects the exchange rates existing at the time of negotiation of the credit . •