The African Development Bank Group (AfDB) will support Tanzania’s economic transformation to inclusive and green growth with an indicative concessional resource assistance package estimated at over US $1.1 billion over a five-year period.
The support package is contained in the Bank’s 2016-2020 Country Strategy Paper (CSP) for Tanzania, which will guide the Bank’s operations in the country in the next five years. The CSP was approved by Bank’s Board of Directors on Wednesday, February 24, 2016 in Abidjan, Côte d’Ivoire.
While commending Tanzania’s robust GDP growth which has exceeded 6% since 2001, the Board said future assistance would address the most pressing constraints to economic transformation and improving public sector governance to ensure value for money in public spending.
Thus, the CSP is built on two complementary support pillars – infrastructure development for inclusive and green growth; and strengthening governance and accountability for improved competitiveness.
The first pillar emphasizes support to transport and energy to promote domestic and regional transport connectivity, and improve access to reliable, affordable and sustainable electricity; while the second pillar prioritizes strengthening of financial management and improving the enabling environment for private sector investment and finance for sustainable job creation.
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