Tanzania, AfDB partner to fund businesses of vulnerable groups
Friday February 11 2022
African Development Bank president Akinwumi Adesina. PHOTO | FILE | NMF
Tanzania have agreed to partner with the African Development Bank (AfDB) to support economic empowerment programmes for women, youth, and small-scale traders locally known as Machingas.
This follows a visit by AfDB president Akinwumi Adesina, who was in Tanzania from February 7 to February 9.
“My government is very passionate about issues affecting ordinary people and is keen to work with AfDB to ensure we empower women and youth of this country,” said President Samia Suluhu Hassan.
Dr Adesina added that the Bank and Tanzania talked about how to empower women through AfDB's Affirmative Finance Action for Women in Africa (AFAWA) programme.
The programme aims to bridge a $42 billion financing gaps facing women in Africa.
Dr Adesina’s visit signals strong ongoing support by the pan-African lender for transformative infrastructure in the country.
During the visit, Adesina and President Samia laid the foundation stone for the 112.3km Dodoma City outer ring road co-financed by the Bank.
The circular highway forms part of a masterplan to transform Dodoma into a thriving, sustainable city for its 2.4 million people.
The new road is envisaged to help market Dodoma as a growing city and tourist destination.
“The Bank remains a trusted partner of Tanzania. The country is making good strides in infrastructure development as it continues to construct roads linking to highways as in Dodoma and other parts of the country,” Dr Adesina said on Monday evening, shortly after he arrived in the country.
Dr Adesina’s visit is expected to strengthen the relationship between Tanzania and the Bank, reinforcing the country’s determination to become a middle-income economy.