Afreximbank has announced an additional $1 billion commitment to accelerate Tanzania’s infrastructure, trade, and SME growth.
The bank made this announcement during a promotional event held in collaboration with the Bank of Tanzania, under the theme “Innovative Financing Solutions for Tanzania’s Sustainable Growth.”
This support was officially unveiled at the event. With a network of participating states that includes 53 African countries and 12 CARICOM (Caribbean Community) member states, Afreximbank is increasing its influence as Africa’s Trade Finance Bank.
Previously, the bank had already invested a total of $2.4 billion in Tanzania. These investments include $800 million in guarantees for the Julius Nyerere Hydropower Project, $200 million for the East Africa Crude Oil Pipeline, $80 million in direct funding to the private sector, contributions to the multi-phase Standard Gauge Railway project, and $350 million in credit lines to commercial banks.
Through these investments, Afreximbank aims to help position Tanzania as one of the engines of sustainable growth in East Africa.