East African Development Bank expands investment in Tanzania

The East African Development Bank (EADB) is expanding investment and funding opportunities in Tanzania to stimulate economic growth and sustainable development. The bank's contributions span various sectors, including infrastructure, housing, financial services, industry, and social services.

During a Governing Council meeting in Kampala, Uganda, the EADB Board of Directors and management discussed resolutions to enhance the bank's performance and increase its capacity to provide financial services within member states. Tanzania was represented at the meeting by Dr. Natu El-Maamry Mwamba, Permanent Secretary of the Ministry of Finance.

Specific mention was made of the bank's role in funding the Standard Gauge Railway (SGR) project in Tanzania, specifically covering Lots 3 and 4, which involves the construction of a 294-kilometer railway line.

Additionally, the EADB announced the appointment of Anne Juuko as the new Managing Director, a position she is set to assume on October 2, 2026. Her appointment aims to strengthen the bank's operations and regional economic cooperation.