Tanzania’s Ministry of Finance reported that its Permanent Secretary, Dr Natu El-maamry Mwamba, witnessed CRDB Bank sign strategic memoranda of understanding with three international finance institutions, a package valued at more than TZS 300 billion, intended to advance financial inclusion and sustainable development in Africa. The MoUs were signed at CRDB’s Investors and Partners Forum held alongside the World Bank and International Monetary Fund Annual Meetings in Washington, D.C. The cooperation covers three financing streams: USD 60 million from FinDev Canada to expand lending to micro, small and medium-sized enterprises (MSMEs), with a focus on women-led businesses and climate-resilient projects; USD 50 million via DEG (KfW Group) to support small and medium-sized enterprise lending in Tanzania; and an initial USD 10 million from Shelter Afrique Development Bank to support affordable housing objectives, starting with financing for CRDB’s subsidiary in the Democratic Republic of the Congo. The agreements were signed by CRDB Chief Executive Officer Abdulmajid Nsekela and the chief executives of the partner institutions.

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