The Ministry of Economy and Finance said on the 23rd that it approved a plan to build an AI and digital technology education institute in Tanzania worth $170 million (about 240 billion won) as the first artificial intelligence (AI) project of the Economic Development Cooperation Fund (EDCF).
EDCF is a concessional official development assistance (ODA) fund created by the government in 1987 to support industrial development in developing countries.
The Tanzania AI and digital technology education institute project is to build an advanced technology education institution to cultivate talent for Tanzania's AI and digital industries, operating four departments: AI, Robotics, data analysis, and Internet of Things (IoT) devices.
The project consists of constructing educational facilities and a campus; establishing AI education and training equipment such as an AI lab, IoT, Robotics, drones, and 3D printers; building ICT and network systems; and supporting curriculum development and operation (O&M).
Tanzania is said to be strategically fostering the AI and digital industries with the goal of reaching per capita GDP of $7,000 by 2050 through its national development strategy, "Vision 2050."
The Ministry of Economy and Finance plans to approve large EDCF projects worth $100 million or more after review and resolution by the Fund Management Committee with the participation of relevant ministries, and to further expand the participation of private-sector experts in the project implementation process.