AFRICAN Development Bank (AfDB) has heaped praise on Tanzania’s strong economic performance, pledging the country more funding support for new and ongoing development projects.
The AfDB, one of the biggest financiers of development projects in the East African nation, said Tanzania meets the criteria for receiving development financial support.
AfBD President Dr Adesina Akinumwi made the commitment during a phone call with President Samia Suluhu Hassan from AfDB headquarters in Abidjan, Côte d’Ivoire. He said the bank has set aside 5bn US dollars (about 11.6tri/-) for supporting women on the continent and asked Tanzania to host the next Women’s Economic Empowerment Conference.
President Samia accepted Dr Akinumwi’s request, said a statement released by the State House Directorate of Communications.
During the talks, President Samia and Dr Akinumwi also discussed the relationship between Tanzania and AfDB, which has been bankrolling a number of development projects in the country.
The AfDB boss pledged that the bank would sponsor Tanzania to establish entrepreneurs’ banks that will be lending money to youths graduating from vocational training.
“This would play a part in helping youth venture into self-employment for them to generate personal income,” Dr Akinumwi said.
The AfDB president also invited President Samia to attend the investment forum that is expected to bring together potential investors for the sake of generating a big number of investments.
Earlier, Dr Akinumwi extended his condolences to President Samia and the people of Tanzania for the loss of the former President, the late John Magufuli. He commended President Samia for being sworn in as the Head of State.
He was optimistic that President Samia would implement the ongoing strategic projects and take the country to the next level.
Dr Akinumwi pledged to bring the bank’s experts to the country to meet with Tanzanian experts for reviewing projects funded by the bank and discuss new opportunities leading to new projects.
President Samia acknowledged AfDB’s contribution in financing a large number of development projects which are being executed under the National Second Five-Year Development Plan, pledging continued cordial relationship with the bank.
The President also expressed her satisfaction over AfDB’s support to youths, saying the move will enable young graduates to engage in agriculture and other related productive activities.
The Head of State also used the opportunity to congratulate Dr Adesina for being re-appointed for the second term in office.