Tanzania praises decades of support from global lender

Tanzania praises decades of support from global lender

By Business Insider Correspondent, Washington D.C.

Minister for Finance, Dr. Mwigulu Nchemba, has extended heartfelt gratitude to the World Bank for its longstanding support in driving the country’s development through grants, concessional loans, and technical expertise.

Speaking during a meeting at the World Bank headquarters in Washington, D.C., with Dr. Zarau Wendeline Kibwe, Executive Director representing the Africa Group 1 Constituency, Dr. Nchemba commended the institution for its unwavering partnership with Tanzania over the past decades.

“I thank the World Bank for its continued provision of financial resources that have been instrumental in implementing various development projects across the country,” said Dr. Nchemba.

He also expressed his appreciation for the World Bank’s willingness to consider supporting Tanzania’s flagship infrastructure project – the Standard Gauge Railway (SGR) – a strategic initiative aimed at boosting connectivity and economic growth across the region.

Pushing for Kiswahili recognition

In the meeting, Dr. Nchemba reiterated Tanzania’s call for Kiswahili to be recognised as one of the official working languages at meetings of the International Monetary Fund (IMF) and the World Bank, citing the language’s expanding significance in Africa and globally.

Also in attendance was Stanslaus Nyongo, Minister of State in the President’s Office for Planning and Investment, who spoke about the launch of Tanzania’s National Development Vision 2050.

The Minister emphasised that the Vision will serve as a catalyst for human development and economic transformation over the coming decades.

Dr. Juma Malik Akil, Secretary-General of the President’s Office for Finance and Planning in Zanzibar, also took part in the meeting, praising the World Bank’s role in advancing Zanzibar’s economic and social progress.

To date, the World Bank’s investment portfolio in Tanzania totals US$10.9 billion, supporting 38 active development projects.

These initiatives span critical sectors including health, water, education, energy, road infrastructure, social services such as markets, and climate change mitigation efforts.

For her part, Dr. Zarau Wendeline Kibwe – herself a Tanzanian – affirmed the World Bank’s commitment to deepening its cooperation with Tanzania.

She highlighted that under the Bank’s new policy direction, there will be a stronger focus on five priority areas: agribusiness, infrastructure (including railway construction), energy, health, tourism, and industrial production aimed at enhancing value addition and job creation.

“The World Bank highly values the strong relationship it has built with Tanzania, and we are committed to continuing this collaboration under the new strategic framework,” said Dr. Kibwe.

A high-level gelegation

The meeting was attended by several senior Tanzanian officials, including Dr. Fred Msemwa, Executive Secretary of the Planning Commission; Dr. Elsie Kanza, Tanzania’s Ambassador to the United States; Mr. Robert Mtengule, Assistant Commissioner for External Finance at the Ministry of Finance; Ms. Zawadi Maginga, Deputy Director of the Legal Department at the Ministry of Finance; and other representatives from the Ministry and the World Bank.

Ends