Tanzania - CRDB Bank Limited


Project Summary

Approval Date 18 May 2016
Signature Date 30 Nov 2016
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 65,773,126.56
Status Implementation

Project General Description

This intervention concerns the opening of a credit line of up to US $ 120 million for the benefit of CRDB Bank Plc, Tanzania's largest commercial bank. The proposed credit line will support the development of infrastructure that currently constrains Tanzania's economic growth. The CRDB should surrender at least 25% of the credit line product to small and medium-sized enterprises (SMEs) operating in the construction, transport and services sectors in Tanzania. This financing facility will also expand the provision of credit to women-owned businesses, which represent key segments to create more jobs and promote inclusive growth in the Tanzanian economy. It will also encourage regional trade and promote regional integration by increasing the capacity of the country's port and airport, which will also boost tourism and government revenues.

Project Objectives

The objective of the project is to stimulate inclusive economic growth in Tanzania through the mobilization of long-term funds to support the projects of the CRDB focused on infrastructure financing (in the areas of energy and transport) and small and medium-sized enterprises (SMEs) operating in various sectors such as construction, manufacturing, transport and services.

Beneficiaries

The main beneficiaries of the project are the Government of Tanzania, CRBD Bank Plc, Small and Medium Enterprises, rural and urban populations, especially young people and women.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-TZ-HAB-009
Last Update 31 Oct 2019

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Tanzania, United Republic of