The World Bank has pledged to help Tanzania become a regional hub for electricity production, boosting economic security, industrial growth, and the value of the Standard Gauge Railway (SGR) to benefit citizens and investors along its corridor.
Dr. Ndiamé Diop, Vice President of the World Bank for East and Southern Africa, made the pledge while meeting a Tanzanian delegation led by Dr. Natu El-Maamry Mwamba, Permanent Secretary of the Ministry of Finance, during the World Bank and IMF Annual Meetings in Washington D.C.
“Tanzania has significant energy resources. We want to support electricity generation projects in the next three years to ensure reliable power that will drive investment and production across the region,” Dr. Diop said.
He added that the World Bank is ready to finance the SGR infrastructure, which will stimulate economic activities along its route and provide opportunities for communities and investors.
Dr. Diop praised the strong Tanzania–World Bank partnership and pledged continued support for the country’s economic growth and poverty reduction programs through project financing and technical assistance.
Dr. Mwamba thanked the World Bank for enabling Tanzania to implement strategic projects in energy, SGR, agriculture, health, education, and infrastructure.
She said the support will accelerate economic transformation, increase production, and create jobs, especially for youth.
So far, the World Bank has invested USD 10.9 billion in 38 projects in Tanzania, covering health, water, education, energy, roads, markets, and climate change initiatives.