Dar es Salaam. The European Investment Bank (EIB) has launched a €350 million (about Sh1.02 trillion) credit line to expand access to finance for Tanzania’s blue economy, including women-led enterprises and other key sectors.
Loans have already been signed with CRDB, NMB, and KCB banks, with more partnerships expected soon. So far, more than 11,000 micro, small, and medium-sized enterprises (MSMEs) and cooperatives have benefited from the initiative, officials confirmed.
Speaking at the National Conference on Blue Economy Stakeholders 2025, held under the theme “Our Ocean, Our Opportunity,” EU Natural Resources Section Programme Officer Daniel Gonzalez said the funding is part of a broader Global Gateway initiative.
“The European Union has mobilised over €110 million (Sh321.6 billion) under a Team Europe package to support Tanzania’s blue economy,” he said, noting that this includes direct budget support and technical assistance in climate action, marine conservation, and sustainable development.
He added that a €15 million (Sh43.8 billion) project has also been launched to strengthen blue economy infrastructure, focusing on job creation, food security, tourism, trade, and climate resilience.
Mr Gonzalez emphasised that the partnership with Tanzania is built on shared values of inclusive economic growth, environmental sustainability, and regional integration.
“The EU stands as a key partner in maritime trade, fisheries, tourism, and coastal development, helping to turn Tanzania’s blue economy vision into reality,” he said.
The Team Europe approach brings together the European Commission and member states including Germany, France, Belgium, and Sweden, which are contributing aligned programmes and investments.
Deputy Permanent Secretary in the Vice President’s Office (Union and Environment), Mr Abdalah Hassan Mitawi, said both mainland Tanzania and Zanzibar had developed a policy framework to harness blue economy opportunities.
He added that the recently launched Vision 2025 places the sector at the centre of the country’s economic transformation strategy. “The blue economy presents vast, largely untapped opportunities, particularly for youth, women, and the private sector,” he noted.
Meanwhile, Director of Transport Infrastructure at the Ministry of Transport, Mr Shomari Shomari, highlighted the critical role of maritime transport.
“With our extensive coastline and access to a vast ocean linking us to international markets, transport is at the heart of the blue economy,” he said.
He noted that since 2021, the government has prioritised growth in the sector by strengthening marine activities, upgrading major ports including Dar es Salaam, Mtwara, and Tanga, and improving facilities on the Great Lakes.
Regulatory reforms have also been introduced, including amendments to transport laws and reinforcement of the Tanzania Shipping Agencies Corporation (TASAC) to enhance efficiency and safety in maritime operations.
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