Tanzania Blue Economy Gets €160 M Boost From EU

Jutta Urpilainen and Mwigulu Nchemba with the EU delegation to Tanzania

The European Union has announced a second package of EUR 166 Million (TZS 370 Billion) to support Tanzania’s Blue Economy, a high priority for the country.

The annoucement was made during the meeting between the European Commissioner for International Partnerships, Jutta Urpilainen, Hon. Dr. Stergomena Tax, Minister of Foreign Affairs and East African Cooperation of Tanzania, and Hon. Dr. Mwigulu Nchemba, Minister of Finance and Planning that took place on 26th October 2022 in Dar es Salaam.

This visit of Commissioner Urpilainen follows several meetings the President of Tanzania, H.E. Samia Suluhu Hassan, had with her counterparts of the European Union.

Following those meetings, a first package of grants from the European Union, worth EUR 180 Million (400 Billion TZS) was announced.

This second package of EUR 166 will contribute to implement the Global Gateway, the new European strategy to boost smart, clean and secure links in digital, energy and transport sectors and to strengthen health, education and research systems across the world.

Commissioner Urpilainen said: “worldwide, Global Gateway aims to mobilise up to EUR 300 Billion of investment by 2027, in a Team Europe approach between the EU, Member States, Development Financial Institutions and the private sector. In Tanzania, these actors will work together with the Government to use the packages of EU grants, such as the one announced today, in order to bring additional investments.”

For her part, Hon. Mwigulu Nchemba said: “This second package of grants complements the joint strategy of our partnership. As Government of Tanzania, we see the mix of direct contribution to the National Budget and support to the private sector as the best combination to guarantee economic development in our country. The European strategy that aims to promote sustainable and inclusive investments is perfectly in line with Tanzania’s vision and I express my sincere appreciation for this excellent collaboration.”

RELATED:  Tanzania To Receive EUR 425 million from the European Commission

In addition, a third EU package of ERU 20 million (45 Billion TZS) will soon specifically address Tanzanian girls’ education.

EU and Tanzania

The EU is a major trade and investment partner for Tanzania.

In 2020, the EU was the fourth most prominent destination of Tanzania’s exports  and  Investors from the EU contribute significantly to the Tanzanian economy.

Foreign Direct Investment from companies of the ten most active  EU Member States into Tanzania was USD 1.5 billion between 2013 and 2020.

In 2021, total trade between Tanzania and the EU reached EUR 1.3 billion, of which EUR 457 million imports from Tanzania and EUR 856 exports to Tanzania.

Related Posts