EU offers Tanzania 65 million dollars for poverty reduction

The European Union (EU) has provided Tanzania with over 80 billion shillings (65 million U.S. dollars) to supplement the country's national budget for poverty reduction, local media reported on Friday.

The amount of budget-support funds will cover poverty reduction programs for the next two years, according to sources within the Finance Ministry.

The EU fund was provided through an agreement signed by the head of the EU delegation to Tanzania, Frans Baan, and the permanent secretary of the Tanzanian Finance Ministry, Gray Mgonja.

The EU has been supporting Tanzania's poverty reduction efforts and its budget support contributes to about 600 billion shillings offered by 14 development partners for Tanzania's 2005/2006 financial year.

Source: Xinhua