380bn/- grant to fund three key projects

TANZANIA has received Euro 166 million (about 380bn/-) grant from the European Union (EU) to fund three projects under a multi-annual indicative programme.

Finance and Planning Minister Mwigulu Nchemba identified the sectors that will benefit from the assistance as the blue economy, financial sector improvement, and improved collaboration between Tanzania, the EU, and other international organisations.

Dr Mwigulu further stated that the programme, implemented from 2021 to 2027, is divided into three priority areas: green, resilient, and inclusive growth; sustainable cities; and good governance and security.

“The blue economy sector will receive Euro 110 million (257bn/-) in four years, and the main goal is to enhance the blue economy that is resilient to climate change in cities and ecological systems in Zanzibar and Tanzania mainland,” Dr Nchemba said yesterday in Dar es Salaam.

He stated that the financial sector improvement will receive Euro 50 million (117bn/-) over four years.

According to the Minister, the project’s main goal is to improve accountable and efficient public fund management, improve the financial market, and increase access to finance for women and youth, as well as strengthening collective discussions on finance management.

Dr Nchemba stated that the third project, worth Euro 6 million (13.4bn/-), aimed at improving collaboration between Tanzania, the EU, and other development partners in order to contribute to the implementation of international development commitments and Tanzania, EU inclusive plans as outlined in the programme.

He deemed the project’s structure to be innovative because it involves the implementation of special projects that include general budget support and EU-Tanzania agreements as well as for sectoral budget support.

“We are grateful for the budget support amounting of Euro million 64.8 (145bn/-) for two of the three projects mentioned,” he said.

“I can confirm that the EU is our strategic development partner to achieve the SDGs, as evidenced by the number of soft loans received from the regional bloc since 1975,” he said.

Tanzania has received Euro 2,394 million (5.9trl/-) in grants and Euro 270.9 (706.5bn/-) in soft loans from the European Investment Bank (EIB), according to the minister.

Visiting European Commissioner for International Partnerships, Jutta Urpilainen said the support follows several meetings President Samia Suluhu Hassan had with her counterparts in the EU.

Ms Urpilainen said during President Samia’s visit to Brussels, Belgium, in February this year, she met with the President of the European Council, Charles Michel, and the President of the European Commission, Ursula von der Leyen.

Following the discussions, the first package of grants from the EU, worth Euro 180 Million (400bn/-) was announced. This time, European Commissioner Urpilainen’s visit has witnessed the second package to support Blue Economy, a Tanzania high priority, as well as public and private finance.

“Worldwide, Global Gateway aims to mobilise up to Euro 300 billion of investment by 2027, in a Team Europe approach between the EU, its Member States, Development Financial Institutions and the private sector,” she said.

The EU senior official added that in Tanzania, these actors will work together with the Government to use EU grants, such as the one announced today, in order to bring additional investments.

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