BANGKOK: TANZANIA has urged the World Bank to support development initiatives that translate economic growth into tangible benefits for citizens through job creation, higher incomes and increased production.
The call was made by the Minister for Finance, Ambassador Khamis Mussa Omar during talks with World Bank leaders in Bangkok, Thailand, on the sidelines of the annual meetings of the International Monetary Fund (IMF) and World Bank Group.
The minister said, development efforts should go beyond measuring success through economic growth indicators and focus on outcomes that directly improve people’s lives, including expanding employment opportunities, boosting productivity and raising incomes.
Additionally, he identified tourism as a key sector with significant potential to generate jobs quickly and stimulate economic activity while noting that Tanzania is yet to fully exploit its tourism potential, particularly in areas surrounding the Great Lakes and along the coastline.
Moreover, the minister stressed the need to develop these destinations to attract more visitors, diversify economic activities and create additional employment opportunities for Tanzanians.
World Bank Managing Director of Operations Anna Bjerde said job creation was the institution’s top priority in supporting economic development.
She said the bank was pursuing a strategy focused on strengthening micro, small and medium-sized enterprises (MSMEs), which account for a substantial share of business activity and employment.