The Government of the United Republic of Tanzania and the International Finance Corporation (IFC) have reaffirmed their commitment to continue their partnership in promoting the private sector, investment and sustainable economies for the benefit of both parties.
This was stated in a conversation between the Minister of Foreign Affairs and East African Cooperation, Ambassador Mahmoud Thabit Kombo (Mb), and the IFC Regional Director for East Africa, Mrs. Mary Porter Peschka, held at the Ministry’s Sub-Offices in Dar es Salaam.
During the conversation, Ambassador Kombo commended IFC’s significant contribution to strengthening the country’s financial sector, particularly through support to NMB, CRDB and NBC banks. He said the partnership has increased access to credit and capital and has been a significant support for small and medium-sized entrepreneurs.
The Government has recognized IFC’s contribution to infrastructure development, including advisory services for strategic projects such as the Bus Rapid Transit (BRT) project in Dar es Salaam.
He said the organization’s participation in the agribusiness and industrial sectors has also contributed to increasing the value of crops and opening up employment opportunities for Tanzanians.
Ambassador Kombo stressed that the Government continues to prioritize the private sector as an engine of economic growth, with the aim of developing industries and adding value to products to achieve national development goals by 2050.
Ms. Peschka commended Tanzania for the successful implementation of projects funded by IFC, and explained that the organization will continue to collaborate with the country in promoting the use of technology and preparing professionals who will increase productivity in various sectors including industry, agriculture and strategic projects.
