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| Tanzania's Prime Minister lauds Citibank's 35-Year partnership in economic development |
By The Respondent reporter
Prime Minister Kassim Majaliwa has highlighted the longstanding partnership between the Tanzanian government and Citibank of the United States, which has flourished for over 35 years. This collaboration has been instrumental in providing financial advice through the Bank of Tanzania (BoT).
During a meeting with Citibank’s Board Chair, John Dugan, on September 24, 2024, in New York City, the Prime Minister expressed deep gratitude for Citibank's role in Tanzania's economic development. He noted that the bank has been pivotal in securing loans, advising the government on financial matters, and funding significant infrastructure projects across the country.
“Citibank has played a crucial role in financing the construction of our Standard Gauge Railway (SGR), even taking on a contract for part of the railway's construction,” he stated. “They are also key partners in the development of the Pemba Airport.”
Furthermore, Majaliwa emphasized Citibank's assistance during a fuel shortage crisis, helping local traders access fuel at affordable prices. The partnership has also extended to supporting small businesses through collaborations with the U.S. International Development Finance Corporation, providing loans and opportunities, particularly for women entrepreneurs.
In response, John Dugan reaffirmed Citibank’s commitment to continue working with the Tanzanian government on various developmental initiatives, building on a fruitful history that spans four decades.