Private Sector Expected to Provide 70% of Financing for Vision 2050

TLDR

• Tanzania and the United Nations have agreed to strengthen development cooperation focused on mobilizing financing and expanding private-sector participation.
• The commitment was made during a meeting between Finance Minister Khamis Mussa Omar and UN Resident Coordinator Susan Namondo in Dar es Salaam.
• The discussions emphasized the need for 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 Vision 2050 and the five-year development plans, starting with FYDP IV.