In a significant step towards advancing Tanzania’s economic and social growth, the Minister of Finance, Dr. Mwigulu Lameck Nchemba (MP), recently met with a delegation from the Italian Development Bank (CDP International Development Cooperation), led by the bank’s CEO, Mr. Dario Scannapieco.
The meeting, which took place in Rome, Italy, focused on enhancing the collaboration between Tanzania and the Italian bank in implementing key development projects aimed at improving the country’s economy and the well-being of its citizens.
During the meeting, both parties explored potential areas of partnership across a wide range of sectors, including agriculture, industrial production, energy security, sustainable infrastructure, water, health, education, and vocational training.
According to Minister Nchemba, “The collaboration between Tanzania and the Italian Development Bank will play a vital role in strengthening the country’s economic and social infrastructure. Together, we aim to promote food security, enhance industrial production, and support sustainable energy solutions that will power Tanzania’s growth for years to come.”
A major focus of the discussions was how the two sides could work together to empower the private sector, recognizing that an active and engaged private sector is essential for boosting Tanzania’s economy.
Minister Nchemba further emphasized, “Private sector participation in key sectors is crucial to the country’s development. By working together with the Italian bank, we can create an environment that fosters innovation and drives economic progress.”
Another key area of focus was the development of critical infrastructure, particularly in energy, transportation, and water resources.
With Tanzania’s rapidly growing population and increasing urbanization, Minister Nchemba noted that “We are committed to creating sustainable infrastructure that will support our population and meet the growing demands of our economy. We believe that our partnership with the Italian Development Bank will be instrumental in this regard.”
Education and skills development also took center stage in the talks. The Italian Development Bank has already provided significant funding for several higher education technical institutions in Tanzania.
These include the Karume Institute of Science and Technology, Arusha Technical College, Mbeya University of Science and Technology, and the Dar es Salaam Institute of Technology.
Mr. Scannapieco highlighted, “Education and vocational training are essential for equipping the next generation with the skills they need to succeed. By supporting institutions like these, we are investing in Tanzania’s future.”
The ongoing support in the education sector is aligned with Tanzania’s long-term vision to create a skilled workforce capable of driving the nation’s industrialization efforts.
Minister Nchemba further added, “These institutions are critical for providing the necessary skills and training, particularly for our youth, and will contribute significantly to reducing unemployment while supporting the growth of Tanzania’s industrial sector.”
At the conclusion of the meeting, Minister Nchemba expressed his gratitude to the Italian Development Bank for its continued support.
He stated, “This partnership is an important step forward in realizing Tanzania’s development goals. We look forward to strengthening our cooperation in these vital areas and ensuring that both our economies benefit from this collaboration.”
With both sides committed to deepening their partnership, the collaboration between Tanzania and the Italian Development Bank holds great promise for fostering sustainable economic growth and improving the quality of life for Tanzanians in the years to come.