Press Room
 

FROM THE OFFICE OF PUBLIC AFFAIRS

June 13, 2000
LS-705

STATEMENT BY TREASURY SECRETARY LAWRENCE H. SUMMERS

I congratulate the efforts of WAMATA (Walio katika Mapambano na AIDS Tanzania) members and volunteers in the fight against HIV/AIDS.

People are sometimes surprised to hear a Finance Minister like myself talk about Aids. But the reason is very simple: AIDS is not only a health issue, but an issue with tremendous economic implications that threatens the very foundation of development in Tanzania and throughout Africa.

As a trailblazer in reducing the stigma of HIV/AIDS, WAMATA and other non-governmental organizations are absolutely crucial in the effort to stop AIDS from rolling back development gains in Tanzania.

As we've seen from the success in Uganda and Senegal, national leadership is essential. Likewise, we applaud Tanzanian President Mkapa who just this week took a bold step forward by speaking directly to the people about the seriousness of AIDS. This leadership will be essential in Tanzania where more than one in ten people are infected with HIV.

AIDS is an issue that effects us all. That is why President Clinton has set out a pro-active agenda to tackle HIV/AIDS and other diseases that are robbing millions of children of a hopeful future. This effort increases funding and incentives for expanded research into new vaccines including AIDS, malaria, and TB.

As part of this effort, I am pleased to announce today that the United States will make a $25,000 grant to WAMATA to support their work to speak out about HIV/AIDS and provide support for those affected by the disease. The grant is in addition to the $7.1 million the US currently provides for the prevention and control of HIV/AIDS in Tanzania, where we are the largest bilateral donor.

In April, Tanzania qualified for total debt relief under the Heavily Indebted Poor Country (HIPC) Initiative which will translate into debt service relief over time of US$2 billion (NPV), with roughly $100 million in savings in FY2001 alone. These savings amount to more than Tanzania's entire health budget and should go a long way to help Tanzania fight AIDS.