Tanzania is seeking to attract more private capital into climate-resilient projects, with the government saying investment in clean energy, agriculture and infrastructure must deliver jobs and stronger economic growth alongside environmental benefits.
Deputy Finance Minister Mshamu Ali Munde said Tanzania wanted international investors, banks, insurers and development finance institutions to view climate action as an investment opportunity as the country works towards its ambition of becoming a $1 trillion economy by 2050.
He said the government was putting in place mechanisms to increase private-sector participation, with businesses expected to provide about 70 percent of the investment required to achieve the National Development Vision 2050.
“Tanzania believes that financing to protect our planet and financing for development must go hand in hand,” Mr Munde said.
“For developing countries, climate action must help create jobs, strengthen energy and food security, build resilient infrastructure and support industrial growth.”
Mr Munde was speaking on behalf of Finance Minister Khamis Mussa Omar after a high-level meeting of the Private Climate Finance Community at the United Nations headquarters in New York, held as part of the Sustainable Development Impact Meetings 2026 (SDIM26).
The government sees private investment as critical to financing the infrastructure and productive activities required to transform the economy, while the public sector focuses on policies, infrastructure and measures to reduce investment risks.
Mr Munde said Tanzania was strengthening coordination of climate finance and using public investment, public-private partnerships (PPPs) and other public resources to make projects more attractive to private investors.
He said the government was also engaging development partners on ways to increase financing for projects that support the country's long-term development goals.
“We are continuing to prepare mechanisms to involve private-sector stakeholders so that they become an important part of implementing the National Development Vision 2050,” he said.
Tanzania is targeting an economy worth $1 trillion by 2050, with average annual per capita income projected to reach about $7,000.
The government has identified renewable energy—including wind, solar and hydropower—as one of the areas where climate finance and private investment can converge.
Other opportunities include climate-smart agriculture, resilient transport and water infrastructure, sustainable cities, modern urban planning, green transport and conservation projects capable of generating revenue while protecting ecosystems.
Mr Munde also called on multilateral development banks and development finance institutions to provide support at the early stages of project preparation, including grants and long-term financing in local currencies.
He said local-currency financing could help investors and project developers manage risks arising from fluctuations in foreign exchange rates.
The government also wants greater coordination among institutions implementing climate and environmental programmes to prevent duplication and improve the use of available resources.
Mr Munde urged investors and development partners to engage Tanzanian institutions early when designing projects, saying this would help ensure investments create decent jobs and retain lasting economic value in the country.