PRESIDENT SAMIA ACCENTS TO MUNICIPAL FUNDING

President Samia Suluhu Hassan holds talks with the United Nations Capital Development Fund (UNCDF) Executive Secretary, Ms. Preeti Sinha at State House in Dar es Salaam yesterday. 

President Samia Suluhu Hassan has ordered the Ministry of Finance and Planning to come up with procedures that would see immediate introduction of a Municipal Funding Facility to empower Local Governments to bankroll their projects.

The facility dubbed - Municipal Investment Financing (MIF), and managed by the United Nations Capital Development Fund (UNCDF), is intended to facilitate Local Governments to raise funds through investment bonds.

The Head of State said such a programme would help in reducing the burden on the Central Government to fund the projects of the Local Governments.

She made the directive to the Ministry yesterday after she held talks with the Executive Secretary of UNCDF, Ms. Preeti Sinha at State House in Dar es Salaam.

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