Dar-Es-Salaam: The World Bank Group’s Board of Executive Directors recently approved of a credit of US $ 45 million “to improve the socioeconomic impacts of large and small-scale mining for the country and people”, said the Bank in a press note. The Bank also expressed its intention to “help increase private, local, and foreign investments” in the country.

“This project shows the World Bank’s commitment to support Tanzania’s efforts to allocate mining resources equitably, especially to the poorest through a focus on artisanal and small-scale mining,” said Philippe Dongier, the World Country Director for Tanzania.

This financing is expected to build upon an ongoing project – Sustainable Management of Mineral Resources Project (SMMRP) – which the Bank says has “strengthened government capacity to manage the sector, improved the regulatory framework, expanded the country coverage by geological surveys and enhanced the social and environmental management framework for mining”.

The aim of the WB in extending the new credit facility is to reduce poverty in the country “through the development of a viable domestic mining industry and spreading its benefits to poor areas where artisanal and small-scale mining (ASM) takes place”.

“Today’s additional financing build on these achievements and supports the government’s efforts to transform mining activities into economic growth with benefits that can be shared by all Tanzanians, particularly in rural areas,” said Mamadou Barry, the World Bank Task Team Leader for the Project, at the time the extension of the credit was announced.

This project envisages not only the locating of new areas for artisanal mining, but also for the setting up of centres to impart knowledge and training in areas like cutting and polishing, jewellery making , marketing etc.