THE United Nations Development Programme (UNDP) and TIB Development Bank have signed a memorandum of understanding (MoU) aimed at mobilising innovative financing solutions to accelerate Tanzania’s socio-economic transformation.
The agreement, signed in Dar es Salaam yesterday, signals a deepening collaboration between the national development finance institution and the UN agency, with a focus on unlocking investment for key sectors including renewable energy, small and medium-sized enterprises (SMEs), the blue economy and youth-led initiatives.
Under the partnership, the two institutions will jointly identify and develop bankable projects, enhance investment readiness, and mobilise blended finance to drive inclusive economic growth across the country. The initiative also seeks to strengthen institutional capacity and expand entrepreneurial opportunities, particularly for young people.
Speaking during the signing ceremony, TIB Development Bank managing director, Deogratius Kwiyukwa, said the collaboration reflects a shared commitment to sustainable development.
“This partnership with UNDP reflects a shared vision of advancing sustainable and inclusive development in Tanzania. As the country’s national development finance institution, we remain committed to mobilising long-term capital and innovative financing solutions that catalyse transformative investments across key sectors of our economy,” he said.
The partnership highlights growing confidence among international development partners in TIB’s capacity to structure and deliver impactful financing solutions. The bank has built a track record in supporting strategic investments through long-term financing, development fund management, and project preparation, key pillars in creating viable, investment-ready projects.
On its part, UNDP said Tanzania continues to make notable progress in advancing sustainable development, strengthening economic resilience and maintaining regional stability.
UNDP Resident Representative, Shigeki Komatsubara, emphasised the importance of collaboration with national financial institutions in scaling development impact.
“Partnerships with institutions like TIB Development Bank are essential in scaling development outcomes. Through this collaboration, we aim to unlock innovative financing mechanisms that support inclusive growth, strengthen resilience, and expand opportunities for communities nationwide,” he said.
The MoU aligns with the country’s long-term development blueprint, Tanzania Vision 2050, which prioritises sustainable economic transformation, investment promotion, and environmental conservation.
The initiative is also in line with broader government efforts under President Samia Suluhu Hassan to drive economic reforms, enhance strategic partnerships, and position Tanzania as a competitive investment destination.
According to the agreement, the two institutions will collaborate on technical cooperation, resource mobilisation, and implementation of high-impact projects aimed at creating jobs—particularly for youth, while empowering communities and supporting long-term economic resilience.
TIB Development Bank plays a central role in financing Tanzania’s development agenda, focusing on sectors such as infrastructure, agriculture, manufacturing, mining, tourism, and the blue economy.
Meanwhile, UNDP operates in nearly 170 countries, working to eradicate poverty, reduce inequalities, and build resilient nations through inclusive and sustainable development programmes.
The partnership is expected to accelerate Tanzania’s transition towards a more inclusive, sustainable and investment-driven economy.
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