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Tanzania impresses the World Bank boss
2006-07-16 10:17:47
By Correspodent Michael Haonga
Tanzania has been described as being on the right track for becoming one of the middle income countries by the year 2025 in development.
The remarks were made in Dar es Salaam on Friday by the World Bank President, Paul Waolfowitz, at a press conference in Dar es Salaam.
Presently Tanzania is grouped among least developed countries that have the majority of people spending less than one US dollar per day .
Wolfowitz remarked at a press conference: ’’Tanzania has the possibility of reaching the goal of becoming a middle income country by 2025 and reaching the Millennium Development Goals (MDGS).’’
He commended the country for using foreign aid effectively for the intended drive towards set Millennium Development Goals, indicating the seriousness and determination for accelerating its pace to greater economic development achievements.
The Bank chielf also cited peace, stability, inter-ethinic and racial harmony as positive ingredients .
He furthermore defended the need for developing countries to protect their industries from unfair competition with those in the developed countries.
He said there was nothing wrong for developing countries to protect their infant industries from developed countries imports.
The WB President was answering a question at the press conference on what could be done to facilitate fair competition between products from developed countries and those in developing countries.
He, however, cautioned that such protectionism, should be a temporary measure.
Earlier during his visit in the country, the WB President commended Tanzania for keeping its promises to utilize aid effectively and for the intended purpose.
’’The purpose of my visit here is to see how aid from the World bank is being utilized. In Tanzania I have learnt that aid has been utilized efficiently,’’ he said
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