WORLD BANK PLEDGES CONTINUED PARTNERSHIP WITH TANZANIA ON STRATEGIC DEVELOPMENT PROJECTS

Minister for Finance, Hon. Ambassador Khamis Mussa Omar (MP) (right), bids farewell to World Bank Vice President for Eastern and Southern Africa, Dr. Ndiame Diop, after their meeting and discussions at the Ministry of Finance’s offices in Dar es Salaam. The meeting focused on strengthening cooperation in developing the Central Corridor and transforming it from a transportation route into an economic corridor capable of creating jobs and stimulating productive activities.

Dar es Salaam, Tanzania; August 20, 2026

The World Bank has reaffirmed its commitment to strengthening its partnership with Tanzania in advancing strategic development projects aimed at unlocking the economic potential of the Central Corridor, creating jobs, stimulating economic growth and improving livelihoods in Tanzania and neighbouring countries.

The commitment was made by World Bank Vice President for Eastern and Southern Africa, Dr. Ndiame Diop, during a meeting with Minister for Finance, Hon. Ambassador Khamis Mussa Omar (MP) at the Ministry of Finance’s offices in Dar es Salaam. The meeting took place on the second day of Dr. Diop’s visit to Tanzania.

Dr. Diop said the World Bank sees significant potential in strengthening its cooperation with Tanzania to develop the Central Corridor and transform it from a transportation route into a fully-fledged economic corridor capable of generating employment, expanding production and supporting the implementation of Tanzania’s Development Vision 2050.

He said the partnership will focus on supporting critical infrastructure development, including ports and railways, as well as expanding the railway network to neighbouring Burundi.

“One of the major areas of our future cooperation is strengthening projects along the Central Corridor. We have had productive discussions with the Minister for Finance on what we can do together to support this corridor and transform it into an economic corridor capable of creating many jobs,” Dr. Diop said.

CENTRAL CORRIDOR TO DRIVE VALUE ADDITION

Beyond transport infrastructure, Dr. Diop said the World Bank sees the need for integrated investments across areas served by the Central Corridor to increase the value of resources produced in Tanzania.

These areas include agriculture and agro-processing, mining and mineral processing, logistics hubs and other transport-related services, with the aim of ensuring that Tanzanians benefit more from investments along the corridor.

He said greater participation by the private sector would also help Tanzania and neighbouring countries move beyond exporting raw materials by promoting value addition, expanding production, increasing trade and creating more employment opportunities.

“Partnership between the World Bank and Tanzania will continue to be guided by a shared commitment to investing in areas that help create more and productive jobs, particularly as Tanzania continues to address the challenges associated with population growth,” Dr. Diop said.

WORLD BANK TO STRENGTHEN COUNTRY PARTNERSHIP

Dr. Diop further said the World Bank’s Board has endorsed the continued use of the Country Partnership Strategy as the principal framework guiding its engagement with Tanzania, with adjustments to priority areas.

The enhanced approach will place greater emphasis on people-centred development, particularly education, healthcare and social protection, while also supporting private sector development.

He noted that achieving these priorities will require increased investment in key enabling sectors, particularly energy and transport.

TANZANIA PRIORITISES STRATEGIC DEVELOPMENT PARTNERSHIP

For his part, Minister for Finance Hon. Ambassador Khamis Mussa Omar said Tanzania’s priority is to strengthen its strategic partnership with the World Bank in supporting economic growth and national development.

He said the Government will continue creating a conducive environment for private sector development and strengthening cooperation with the International Finance Corporation (IFC) and the World Bank.

The Minister also highlighted ongoing domestic reforms aimed at improving Tanzania’s business and investment climate.

“This partnership is important in implementing Tanzania’s development priorities, particularly infrastructure, including energy, roads and ports. I thank the World Bank and other development partners for their continued support to Tanzania in implementing various projects and reforms aimed at promoting economic growth and improving the lives of citizens,” Hon. Ambassador Omar said.

WORLD BANK IDA INVESTMENT IN TANZANIA

The World Bank’s investment in Tanzania through the International Development Association (IDA) has reached US$8.96 billion, supporting a total of 35 projects.

Of these, 32 projects worth more than US$8.78 billion are national projects, while three regional projects have a combined value of US$180 million.

The continued partnership between Tanzania and the World Bank is expected to play an important role in supporting infrastructure development, private sector growth, job creation and economic transformation, while strengthening Tanzania’s position as a strategic gateway within the Central Corridor.

The meeting was also attended by Acting Permanent Secretary and Deputy Permanent Secretary in the Ministry of Finance, Mr. Nsubili Joshua; World Bank Country Director for Tanzania, Mr. Firas Raad; Assistant Commissioner in the Ministry of Finance’s External Finance Department, Mr. Robert Mtengule; Assistant Commissioner in the Policy Analysis Department, Mr. Juma Mkabakuli, as well as other senior officials from the Ministry of Finance and the World Bank from Washington, D.C.

Keep following Kitomari Banking & Finance Blog for more news and insights on banking, finance, investment, business and Tanzania’s economic development.