M a r k e t N e w s

Tanzania to Receive EUR 425 million from the European Commission

Posted on : Monday , 21st March 2022

On 18th February 2022, the President of the European Commission (EC) Hon. Ursula Von der Leyen met with Tanzania’s President Hon. Samia Suluhu Hassan on her visit to Belgium.  


After the meeting, Von der Leyen has announced the EC’s support to Tanzania with EUR 425 million to fund various development projects in the country over the next 3 years.


The funding corresponds to TZS 1.15 trillion and some areas of investment have already being confirmed.


TZS 480 billion will be used to strengthen digitalization, TZS 284 will be used to promote the well-being of Tanzanians and promote gender equality, while TZS 197.3 billion has been allocated for the strengthening of Green Cities which include Tanga, Mwanza and Pemba.


Von der Leyen also informed President Samia that Tanzania is one of the African countries that will benefit from the new EU-Africa: Global Gateway Investment Package of more than EUR 150 billion which aims to support Africa for a strong, inclusive, green, and digital recovery and transformation.  


For her part, President Samia has pledged to continue working with the EC to identify other priority areas through bilateral consultations in the future so that the support can bring development and prosperity to Tanzanians.


Source : www.abafnz.com
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