Washington — THE International Finance Corporation (IFC), the World Bank Group’s private sector investment arm, has pledged to work with the Government of Tanzania in implementing the National Development Vision 2050 by enabling greater private sector participation in large-scale strategic projects, particularly in energy and railway infrastructure.
The commitment was made by IFC Vice President Ethiopis Tafara during discussions with a Tanzanian delegation led by Minister for Finance, Ambassador Khamis Mussa Omar, at the institution’s headquarters on the sidelines of the World Bank and International Monetary Fund (IMF) Annual Meetings in Washington D.C., United States.
IFC commended Tanzania for opening up significant opportunities for private sector engagement in the Vision 2050 agenda, including investment in electricity generation and distribution as well as the port sector.
The institution further stated its readiness to directly support Tanzania’s Standard Gauge Railway (SGR) project by helping develop infrastructure that would stimulate economic activity along the transport corridor, thereby enhancing the efficiency and productivity of freight transportation.
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On his part, the Minister for Finance, Khamis Mussa Omar, outlined the ongoing reforms under the Sixth Phase Government aimed at improving the business and investment climate, and invited IFC to actively participate in the implementation of Vision 2050.
He noted that the government has undertaken various measures, including tax system reforms and the enhancement of investment incentives, to increase private sector participation in economic growth while expanding employment and business opportunities for citizens.
According to IFC’s 2025 assessment, the institution invested approximately US$197.4 million in the first half of fiscal year 2026 through short-term financing aimed at stimulating private sector activity.
In addition, IFC’s total exposure in Tanzania has reached 315.9m US dollars, with 74 percent allocated to the financial services sector and 26 percent directed toward manufacturing, agribusiness, and other service sectors.
