The African Development Bank (AfDB) announced last month that it would support Tanzania’s economic transformation to inclusive and green growth through an indicative concessional resource assistance package estimated at more than $1.1-billion over a five-year period.
The support package is contained in the bank’s 2016–2020 Country Strategy Paper (CSP) for Tanzania, which will guide the bank’s operations in the country during the next five years. The CSP was approved by the AfDB’s board of directors last month in Abidjan, Côte d’Ivoire.
While commending Tanzania’s robust GDP growth, which has exceeded 6% since 2001, the board said future assistance would address the most pressing constraints to economic transformation and improve public-sector governance to ensure value for money in public spending.
The CSP has two complementary support pillars – infrastructure development for inclusive and green growth, and strengthening governance and accountability for improved competitiveness.
The first pillar emphasises support for transport and energy to promote domestic and regional transport connectivity and improved access to reliable, affordable and sustainable electricity. The second pillar prioritises the strengthening of financial management and improving the enabling environment for private-sector investment and finance for sustainable job creation.
To effectively consolidate the AfDB’s contribution to Tanzania’s development, the CSP 2016–2020 introduces innovative infrastructure investments to transform operational regions into sustainable development corridors. It also mainstreams the bank’s 2013–2022 Ten Year Strategy priorities, such as inclusive and green growth, gender equality and empowerment.
