A delegation of the European Investment Bank (EIB Global) led by EIB Vice President, Thomas Östros, is visiting Tanzania for a series of business engagements to ramp up its investment in the country. The visit provides an opportunity to take stock of EIB-supported projects with a focus on green private sector, public infrastructure, investing and boosting of the blue economy.
During the visit, the delegation will meet with the Tanzania President Dr. Samia Suluhu Hassan and the President of Zanzibar, Dr. Hussein Mwinyi and other government officials. Additionally, the meetings will cover the handover of the first phase of the Lake Victoria water and sanitation project. The EIB investment has increased coverage of water, wastewater and sanitation services to urban and peri-urban populations in Mwanza, and Bukoba and Musoma areas.
Last year, Tanzania was the largest recipient of EIB support in Sub Saharan Africa. The country benefited from Ksh 37 billion (EUR 270 million) of new investment to support businesses across Tanzania through partnerships with Tanzanian Banks, namely CRDB, NMB and KCB-Tanzania. The Investment so far facilitated lending to over 10,000 SMEs, out of which over 3,000 are women-led enterprises and over 900 are blue economy enterprises and co-operatives in Zanzibar.
Talks will also centre on the ongoing airport rehabilitation and expansion works being supported by EIB Global in Bukoba, Kigoma, Tabora, Shinyanga and Sumbawanga. Once complete, the project is expected to stimulate investment in the area, create jobs and thus enhance income levels, boost commerce and trade with neighbouring areas, attract tourism and increase social and economic interactions at the airports.
The parties will also discuss potential support for other investments. These include the Bus Rapid Transit system, Phase 2 of the Lake Victoria Water and Sanitation Project, the Zanzibar Water Security Project and the Tanga Plastic Waste Management Project. These projects are all under different stages of evaluation.
EIB Vice President Östros will meet with representatives of the leading banks in the country as well as some SME beneficiaries of the EIB Global’s partnership with local commercial banks.
Speaking ahead of the visit to Tanzania, EIB VP Östros stated, “The Tanzanian economy has shown great resilience and growth over the past years. The government has also continued to support private sector development in partnership with local, regional and international partners. This has made Tanzania a key partner under the EU’s Global Gateway initiative and hence a key partner for the EIB. We are more than happy to work together with our partners in Tanzania to further strengthen the country, both its public and private sector.”