Washington — The World Bank Group’s Board of Executive Directors has endorsed the new Country Partnership Framework (CPF) for Tanzania to support the country in consolidating its status as a middle-income country, achieving a high level of human development, and contributing to the World Bank Group’s (WBG) mission to end extreme poverty and boost prosperity on a livable planet.
The new strategy maximizes the impact of the One-WBG approach, coordinating and leveraging the strengths of the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) in the country over the period FY2025 to FY2029.
The new CPF prioritizes several key areas. First, it aims to support the country’s human development agenda. This includes providing transformative support in education, healthcare, water, sanitation, and hygiene (WASH) services, and shock-responsive social protection programs, building upon the strong momentum already established by the Tanzanian government.
Secondly, the CPF will bolster the government’s goal of fostering a better environment for private sector-led growth. This will involve deepening support for reforms that strengthen the business climate, investing in infrastructure and connectivity to facilitate economic activity, and modernizing Tanzania’s productive sectors. Additionally, the CPF aims to leverage the country’s strategic geographic location to promote inclusive growth both domestically and throughout the sub-region.
Finally, the CPF will support Tanzania’s crucial and multi-prong resilience agenda, focusing on climate change adaptation and mitigation strategies, alongside efforts to strengthen the country’s economic resilience. Progress toward these objectives is underpinned by two cross-cutting priorities: increased empowerment of women and youth and improved government effectiveness with more efficient, transparent, and accountable institutions.
“We have seen tremendous progress with recent policy changes, such as increasing access to education for all girls coupled with broader reforms such as vocational training,” said Nathan Belete, World Bank Country Director. “Girls and boys now have multiple pathways to complete their secondary education and the Fee-free Basic Education Policy has had an incredible impact, opening doors for 4.5 million new students. With such renewed commitment to human development and inclusion by the government, the outlook for inclusive growth and poverty reduction is favorable.”
The CPF is informed by extensive consultations with a wide range of stakeholders as well as a country opinion survey and is aligned with the priorities identified in Tanzania’s Third Five-Year Development Plan and Zanzibar’s Five-Year Development Plan. The CPF’s focus on private sector-led growth is consistent with IFC’s Creating Markets Strategy which aims to support conditions for private enterprises to efficiently contribute to inclusive development.
“Private sector participation is critical to any economy’s growth and development. To address Tanzania’s development goals, including poverty reduction and job creation, the country has an opportunity to further leverage private sector-driven economic growth. IFC will continue to work closely with our public and private sector partners, as well as with our colleagues across the World Bank Group, to unlock the conditions needed to further support inclusive finance, agribusiness, manufacturing, and sustainable infrastructure through investments, advisory and upstream support,” said Mary Porter Peschka, IFC’s Regional Director for Eastern Africa.
“In recent years, MIGA has seen a significant increase in investor interest in Tanzania, thanks to reforms undertaken by the government,” said Șebnem Erol Madan, Director of Economics and Sustainability at MIGA. “As part of the new CPF, MIGA will continue to support financial inclusion and climate finance initiatives and will leverage the new World Bank Group guarantee platform to support the country in attracting and mobilizing private capital in other sectors, including renewable power and digital.”
The CPF builds on a well-performing WBG portfolio in the country. Through the CPF 2018-2022, the World Bank provided over $9 billion dollars of financing that delivered important improvements for Tanzanians, such as:
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
- Increased access to safe water for nearly 4.7 million people which helped reduce the disease burden and improved school attendance and completion rates, particularly for girls.
- Improved secondary education benefiting 2.7 million students, especially girls, by providing better-equipped secondary schools. Additionally, technical and vocational education enrollment tripled and 64% of female graduates found employment.
- Expanded access to electricity for 7.9 million people in rural areas, which enhanced their livelihoods, health, and learning opportunities.
IFC’s investment portfolio in Tanzania stands at over $400 million with investments focused in key sectors including financial institutions, agribusiness, and real estate. The IFC advisory portfolio reached $11 million in 2024. Over the last few months, MIGA has issued its first political risk guarantees in a decade in Tanzania, with guarantees in the mobile money and banking sectors. As a result, MIGA now has a portfolio of $151 million in the country and a strong pipeline in the renewable energy and digital sectors.
Source: allafrica.com
Share this news
This Year's Most Read News Stories
Tanzania’s opposition party ACT Wazalendo honours veteran politician under new policy
Unguja. Opposition party ACT Wazalendo today officially bids farewell to its former Chairman, Juma Duni Haji, also known as Babu Duni, as part of a new policy designed to honor retired senior leaders at a ceremony held at Kiembesamaki, Zanzibar.
The initiative highlights the party’s commitment to recognizing and supporting individuals who have served with dedication and integrity.
Babu Duni, who stepped down earlier this year, was succeeded by Othman Masoud, now the First Vice President of Zanzibar.
The policy aims to provide ongoing respect and support to retired leaders, ensuring their continued recognition and contribution to the party’s development.
“Recognizing their significant contributions to the development and prosperity of the party, this policy ensures that retired leaders continue to be acknowledged and respected by both the party and the community,” the policy states.
To benefit from this policy, leaders must not have left or been expelled from the party. They must have served the party with honor and dedication. The national leadership committee will determine whether a leader has fulfilled these criteria.
The policy seeks to honor retired leaders, protect their dignity, acknowledge their contributions, leverage their ideas for the party’s growth, and support them to the best of the party’s ability.
In honoring these leaders, the party will provide a vehicle, the type of which will be determined by the national leadership committee. Additionally, they will receive a monthly allowance, with the amount also set by this committee.
Other benefits include health insurance. If a leader does not own a home, the party will cover their rent at a rate decided by the committee.
The leadership committee may also grant special recognition based on the leader’s contributions. Retired leaders will participate in decision-making meetings according to procedures outlined in the party’s constitution.
Depending on the party’s resources at the time, the policy may also apply to retired deputy chairpersons for both the mainland and Zanzibar, the Secretary-General, Deputy Secretary-General for both mainland and Zanzibar, and the party’s Attorney General.
Additionally, leaders, executives, or members with exceptional contributions to the party’s protection, advocacy, and defense may also benefit, as determined by the leadership committee.
Currently, those who are eligible for benefits under this policy include Juma Duni Haji (retired party Chairman) and Zitto Kabwe (retired party leader).Continue Reading
Tanzania readying to talk to British developer over Zanzibar land lease revocation
Dar es Salaam. British firm Pennyroyal Limited has said it will sue the Tanzanian government over leasehold revocation in Zanzibar, but the Attorney General has confirmed that they are preparing to meet with the investor.Continue Reading
Fast Satellite Internet in Kenya by June
Elon Musk’s satellite Internet firm Starlink announced it will launch in Kenya in the second quarter of this year.Continue Reading
