Tanzania urges Citibank to expedite credit rating

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The rating, he said, would enable Tanzania to measure its position in the international financial markets and assist prospective lenders in the assessment of the risks.

In her remarks, the minister of State in the Zanzibar President’s Office (Finance and Planning), Ms Saada Mkuya Salum, said they held discussions with executives from Japan’s Mitsubishi Bank, adding that the discussions went well. She said the Japanese lender pledged to help Tanzania with development loans which will be issued on affordable terms. She said the loans will seek to expedite the implementation of the existing and new strategic development projects across Tanzania. In Zanzibar, she said, the loans will be directed towards the implementation of projects that are directly linked to the blue economy and development of infrastructure projects that have a direct impact on lives of people in the Isles. These include development of seaports, airports, roads, electricity and energy, tourism and fisheries among others.

Tanzania urges Citibank to expedite credit rating

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