Exploration of Innovative Financing Sources for Development Projects

TLDR

• Tanzania and the United Nations have agreed to strengthen development cooperation focusing on mobilizing financing and expanding private-sector participation.
• The agreement was reached during a meeting between Finance Minister Ambassador Khamis Mussa Omar and UN Resident Coordinator Susan Namondo in Dar es Salaam.
• The discussions emphasized the need to expand access to innovative sources of development financing, including enabling local authorities to access capital markets through bonds.
• The UN has previously supported the issuance of the Tanga Urban Water Supply and Sanitation Authority Green Bond in 2024, showcasing innovative financing potential.
• The government expects the private sector to provide about 70 percent of the financing needed for implementing Vision 2050 and the five-year development plans.