BANGKOK: TANZANIA is set to step up its push for development financing and stronger global financial partnerships as the IMF and World Bank Group Annual Meetings kick off today in Bangkok, Thailand.
The country aims to use the high-level gathering to mobilise resources for national development projects while deepening cooperation with international financing partners.
Speaking yesterday while chairing a preparatory meeting, Finance Minister Ambassador Khamis Mussa Omar said Tanzania’s participation was a strategic opportunity to attract financing and strengthen oversight of external funds to support national development programmes.
He stressed that the country’s engagement went beyond economic diplomacy, highlighting the importance of ensuring that available financing is effectively utilised and projects are implemented in line with acceptable standards.
“The country’s participation is not only aimed at strengthening economic diplomacy but also at ensuring that financing opportunities are properly utilised and projects implemented to acceptable standards,” Amb Omar said.
He said the government will also seek General Budget Support (GBS) to meet resource requirements for various development programmes.
Amb Omar said Tanzania expects to benefit economically and socially from the meetings through high-level discussions with leaders of the two institutions.
The discussions will involve the Vice-President responsible for the Southeast Africa region and executive directors, with the aim of advancing the country’s development agenda.
He said one of the key priorities is the implementation of the 21st replenishment of the International Development Association (IDA21).
“Under the initiative, the government has submitted an initial list of projects expected to receive World Bank financing to ensure that national priority projects secure the necessary funds,” he said.
Beyond the World Bank, Amb Omar said Tanzania is broadening cooperation with other development partners and continuing discussions with credit rating agencies, including Moody’s and Fitch.
He added that the country is also seeking new lenders to expand access to financing and strengthen investor confidence in the economy.
Earlier, Tanzania’s Honorary Consul in Thailand, Florean Rwehumbiza, said his office was strengthening economic diplomacy through trade, tourism and health cooperation between the two countries.
He said the office has been promoting Tanzania’s tourism attractions in Southeast Asian markets, including Malaysia, Vietnam, Cambodia, Laos and Hong Kong.
The efforts have attracted the interest of airlines in establishing direct flights to Tanzania to ease travel for tourists and businesspeople.
On health cooperation, Mr Rwehumbiza said Tanzania ranked second in Africa in terms of sending patients to Thailand for medical treatment.
He said Tanzanians spent approximately 150 million Thai baht on medical services in Thailand between December last year and June this year.
On travel arrangements, he said Tanzania is the only country in East Africa whose travellers are allowed to enter Thailand without a yellow fever vaccination card, eliminating the need for them to transit through Nairobi.
He added that his office is pursuing the introduction of visa-on-arrival arrangements for Tanzanian travellers to facilitate movement between the two countries.
Deputy Chairperson of the Parliamentary Standing Committee on Budget, Ali Hassan Omar, commended the Ministry of Finance for involving Parliament in the IMF and World Bank Group Annual Meetings.
He said the engagement will support efforts to mobilise financial resources for implementing the Dira 2050 and promoting economic growth.
The preparatory meeting was also attended by Zanzibar Minister for Finance and Planning Dr Juma Malik Akil, Budget Committee member Enock Zadock Koola, Treasury Registrar and Paymaster General Dr Natu El-Maamry Mwamba, Permanent Secretary in the President’s Office responsible for Planning and Executive Secretary of the National Planning Commission Dr Tausi Kida.
Bank of Tanzania Governor Emmanuel Tutuba also attended the meeting. The annual meetings will run until October 18.
