Tanzania hails World Bank support in major economic shocks, geopolitical tensions, climate-related challenges
DAR ES SALAAM: THE Tanzanian government has reaffirmed the strong partnership between Tanzania and the World Bank, citing the institution’s significant contribution to national development through concessional loans and grants supporting key strategic projects. The Minister for Finance, Khamis Mussa Omar made the statement during a farewell ceremony for the outgoing World Bank Country Director, … The post Tanzania hails World Bank support in major economic shocks, geopolitical tensions, climate-related challenges first appeared on Daily News. The post Tanzania hails World Bank support in major economic shocks, geopolitical tensions, climate-related challenges appeared first on Daily News.
Black News 
DAR ES SALAAM: THE Tanzanian government has reaffirmed the strong partnership between Tanzania and the World Bank, citing the institution’s significant contribution to national development through concessional loans and grants supporting key strategic projects.
The Minister for Finance, Khamis Mussa Omar made the statement during a farewell ceremony for the outgoing World Bank Country Director, Nathan Belete, and the introduction of the new Country Manager, Firas Raad, held in Dar es Salaam.
Speaking at the event, Minister Omar who was also the guest of honour at the event praised Mr Belete’s leadership, noting that the World Bank had played a key role in helping Tanzania navigate major economic shocks, including the COVID-19 pandemic, geopolitical tensions, rising borrowing costs and climate-related challenges.
“The World Bank under his leadership enabled the country to implement priority projects in transport, energy, water, education, health, urban development, social protection and climate resilience, which have improved the lives of millions of Tanzanians,” he said.
ALSO READ: Tanzania, UK in talks aimed to deepen their long-standing ties in key economic, social sectors
Additionally, Minister Omar also welcomed the new Country Manager, Firas Raad to Tanzania, noting that he assumes office at a critical time as the country advances its long-term development agenda under Vision 2050, alongside ongoing reforms aimed at strengthening competitiveness, institutions and investment attraction.
The Minister further called on the World Bank and its private sector arm, the International Finance Corporation (IFC), to deepen cooperation with Tanzania in mobilising capital, boosting private sector investment and strengthening public–private partnerships to drive sustainable economic growth.
The post Tanzania hails World Bank support in major economic shocks, geopolitical tensions, climate-related challenges first appeared on Daily News.
The post Tanzania hails World Bank support in major economic shocks, geopolitical tensions, climate-related challenges appeared first on Daily News.
