|Approval Date||18 May 2016|
|Signature Date||30 Nov 2016|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
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.
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.
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.
African Development Bank
|Last Update||31 Oct 2019|
|Country||Tanzania, United Republic of|