By Fridah Nkibuga

The World Bank has approved $122 million to support education programme in Tanzania in the next four years.

’Tanzania’s “Big Results Now in Education” programme aims to raise the quality of education in the country’s primary and secondary schools.

The Board also approved further support to the ongoing Science and Technology Higher Education project which is helping produce more highly-skilled workers who can meet the needs of a fast-growing economy and help to sustain economic growth.

With millions more children enrolled in schools in Tanzania over the past decade, there is now a major push to fast track improvement in education quality.

Using the World Bank’s new Program-for-Results lending instrument for the first time in education, the Big Results Now in Education Program will receive a US$122 million IDA* credit over the coming four years, as pre-agreed results are achieved. The governments of the United Kingdom and Sweden are also supporting the programme.

 

By EA Trade Review Reporter


The World Bank Group committed a record-breaking $15.3 billion to Sub Saharan Africa’s development in fiscal year 2014 (July 2013 to June 2014).

The bank has in its new financing supported shared prosperity in the region and focusing on increased efforts to reduce poverty.

“Africa is making significant progress and at the World Bank we are stepping up the momentum to innovate and think big in order to help our clients achieve their development goals,” said Makhtar Diop, World Bank Vice President for the Africa Region.

“We applaud the improved policies and prudent fiscal decisions many governments have made and we will continue to provide financing through loans and grants, technical expertise and to mobilize our unique convening power to leverage the resources of other development partners.”

The Bank Group continued its strong commitment to Africa delivering $10.6 billion in new lending for 160 projects this fiscal year (FY14).

 

By AFP

WASHINGTON

The United States has removed Swaziland from a lucrative trade pact due to concerns over workers' rights, as it allowed Madagascar back in after the island restored democracy.

President Barack Obama pointed to Swaziland's use of force against demonstrations and lack of recognition of labor unions as he removed the impoverished kingdom from the Africa Growth Opportunity Act, which offers preferential access to the US market for goods from some 40 sub-Saharan nations that meet political and economic standards.

US Trade Representative Michael Froman said Washington hoped to work with Swaziland on improving conditions so it could return to Agoa.

 

By Fridah Nkibuga

Education ministers and delegates from 12 African countries have agreed on a broad framework to strengthen technical and scientific skills in Africa.

This will be achieved through collaboration between governments, the private sector and education/training institutions.

The agreement was facilitated during a high-level Forum hosted by the Government of Senegal and the World Bank in Dakar this week.

Senior representatives from Brazil, China, India and Korea shared their experiences and expressed their strong interest in collaborating with African countries to advance this agenda.

On June 12th, the final day of the Dakar Forum, participants—including ministers, scientists, academics, and business leaders—are expected to sign a Call-to-Action outlining how partners will work together to support the skills-building needs of Sub-Saharan African countries.

The Dakar Forum is a follow up to two high level events during the last year. It builds on an earlier PASET conference in Addis Ababa in July 2013, co-hosted by Ethiopia’s Ministry of Education and the World Bank where the Ministers of nine African countries presented draft action plans for collaboration with new partners.

 

By Agencies

 

Developing countries are headed for a year of disappointing growth as global economic activity fails to pick-up as expected.

According to the World Bank’s Global Economic Prospects (GEP) report, released Wednesday, first quarter weakness in 2014 has delayed an expected pick-up in economic activity,

Bad weather in the US, the crisis in Ukraine, rebalancing in China, political strife in several middle-income economies, slow progress on structural reform, and capacity constraints are all contributing to a third straight year of sub five per cent growth for the developing countries as a whole.

Growth rates in the developing world remain far too modest to create the kind of jobs we need to improve the lives of the poorest 40 percent,” said World Bank Group President Jim Yong Kim.

Clearly, countries need to move faster and invest more in domestic structural reforms to get broad-based economic growth to levels needed to end extreme poverty in our generation.”

 


By Fridah Nkibuga

Rwand Revenue Authority will receive 400 additional tracking devices as the use of the Information Communication Technology (ICT) in trade facilitation along the Northern Transit Corridor has picks pace.

The COMESA Secretariat has now initiated the procurement of additional equipment to enable freight forwarders and customs authorities manage and monitor cargo movement thus reducing the cost of doing business.

The equipment that will be supplied to Rwanda includes 400 additional tracking devices developed under the COMESA Virtual Trade Facilitation System (CVTFS).

The devices will be delivered to the Revenue Authority with 300 going to containerized traffic and 100 for petroleum tankers. Already 600 units are in use in various transit corridors and the demand is rising by the day.

 

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