Tanzania Finance Minister, Amb. Khamis Mussa Omar, has urged the East African Development Bank (EADB) to increase its support for economic and social development in the East African region through closer collaboration with governments and the private sector.
Speaking in Dodoma during a meeting with EADB officials at the Ministry of Finance, Omar said the bank is a critical tool for regional growth and could position East Africa as a model for economic development across the continent.
“If the pace of development driven by the bank is visible, other regional communities, such as ECOWAS and SADC, can learn from our example,” Omar said.
He added that the bank should also focus on reducing poverty, building skills, and supporting both short- and long-term development plans.
Omar further advised EADB to promote its services to ensure that citizens, particularly private sector actors, understand the opportunities available.
“Your responsibility is to make clients aware of the bank and its opportunities,” he said.
The bank has a long-standing presence in the region.
EADB Chairman Charles Mwamwaja said the institution was established in 1967 to support economic growth in East African Community countries.
He said the bank is now expanding its engagement with private sector stakeholders to drive development beyond government projects.
Acting CEO Bernard Mono said the bank is ready to continue working with the Tanzanian government on development projects that generate employment and increase value in key economic sectors.
He added that EADB will provide loans to both public and private entities under its lending criteria to support East Africa’s economic growth.
The meeting was attended by senior officials from the Ministry of Finance, including Deputy Secretary Amina Khamis Shaaban, Commissioner of External Finance Rished Bade, and EADB Resident Manager Stephen Wambura.
Omar praised the bank’s ongoing contributions to East Africa’s development and stressed that closer cooperation with governments and the private sector will accelerate economic growth and social progress in the region.
