CRDB Bank sees Tanzania’s 12bn US dollar climate finance gap as investment not financing challenge

DAR ES SALAAM: THE Managing Director of CRDB Banks, Dr Abdulmajid Nsekela has said Tanzania’s estimated 12bn US dollar climate finance gap should be viewed as a major investment opportunity rather than solely a financing challenge,

Elaborating, Dr Nsekela said the financing gap presents opportunities for the private sector to invest in priority areas identified by the government, noting that recent government measures and budget allocations shows that climate-related risks are already being addressed.

He made the statement during a discussion on mobilising the private sector to address climate change, moderated by World Bank Regional Director for Environment Anna Wellenstein, at the 2026 Tanzania Climate Finance Roundtable held at the Bank of Tanzania Conference Centre in Dar es Salaam.

“The government has identified key priorities and assessed areas requiring climate finance, with the next step being to clearly define the responsibilities of different institutions and ensure the plans are implemented,” he noted.

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Additionally, he said the government’s presentation on measures and plans to address climate change has revealed numerous investment opportunities, stressing the need to identify sectors that require financing and can bring together the public and private sectors.

“Development finance institutions and commercial banks have an important role as a bridge between international capital and domestic financial institutions,” Dr Nsekela said, adding that accredited entities could help attract international capital into local markets and connect it with projects requiring financing.