Tanzania Puts 33 World Bank Projects at US$8.8 Billion
Finance Minister Khamis Mussa Omar told a World Bank vice president in Bangkok on Monday that 33 World Bank projects worth US$8.8 billion are under way. The post Tanzania Puts 33 World Bank Projects at US$8.8 Billion appeared first on The Rio Times .
Tanzania has 33 World Bank projects with a combined value of US$8.8 billion, according to Finance Minister Khamis Mussa Omar. The projects span various sectors, including energy, education, rail, and social protection. Omar made these remarks during a meeting with the World Bank's vice president for Eastern and Southern Africa, Ndiame Diop, in Bangkok, Thailand. The meetings took place during the annual gatherings of the World Bank and the International Monetary Fund (IMF), held from October 12 to 18.
Omar stated that Tanzania's revenue collection and spending are on track, with inflation remaining within the 3% to 5% target range. The National Bureau of Statistics reported a growth rate of 6.1% in the first quarter of 2026 and an inflation rate of 4.3% in September.
The World Bank, headquartered in Washington, D.C., is a lender that funds infrastructure projects in poorer countries, with the United States being its largest shareholder. The organization's annual meetings with the IMF provide an opportunity for finance ministers and central bankers to discuss financing for strategic and regional projects.
Omar highlighted several key projects, such as the Dar es Salaam port, the Central Line railway from Dar es Salaam to Lake Tanganyika, and the new electric Standard Gauge Railway. These projects are expected to improve transportation and trade links, reducing the cost of moving goods to the coast. Additionally, the World Bank projects include power lines connecting Tanzania's national grid with Zambia's, as well as social spending through the Tanzania Social Action Fund (TASAF), which provides cash transfers to poor households and hires villagers for public works.
Tanzania has received about US$1.7 billion from the IMF between 2022 and 2026, with US$1.063 billion coming through a low-cost loan and US$636.5 million through a climate-related reform facility. The IMF board completed the final reviews of both programs in July, releasing approximately US$443.8 million. Tanzania is currently conducting an internal assessment of its needs before entering any new agreement with the IMF, which is expected to take place at a later date.
The World Bank's active portfolio in Tanzania, as listed on the bank's website, is reported to be around US$8.4 billion, slightly lower than Omar's valuation. The difference in figures has not been explained by the ministry. Talks with credit rating agencies Moody's and Fitch, as well as courting new lenders, are ongoing, with the government potentially seeking general budget support if needed.
For U.S. investors and contractors, the World Bank projects and the IMF decision demonstrate Tanzania's plans to finance its infrastructure projects, such as railways, ports, and power lines.
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