Monday, June 23, 2025: East African Development Bank (EADB) has announced the signing of three landmark financing agreements with leading financial institutions in Tanzania, aimed at bolstering economic growth, supporting small and medium-sized enterprises (SMEs) and addressing the country's housing deficit.
The deals, formalized during an EADB stakeholders’ breakfast in Dar es Salaam on Monday, will inject over TZS 63 billion into critical segments of the Tanzanian economy, underscoring EADB’s pivotal role in the region’s development agenda.
The financing agreements were inked with TIB Development Bank (TZS 30 billion), Tanzania Mortgage Refinance Company Limited (TMRC) (TZS 20 billion) and Azania Bank Plc (TZs 13.2 billion).
Dr. Charles A. Mwamwaja, Chairman of the EADB Board, reaffirmed the Bank’s long-term vision, remarking, “EADB’s mission has always been to serve as a catalyst for sustainable development in East Africa. These deals not only unlock financing for key sectors but also reflect our responsiveness to stakeholder feedback and the real needs of the economies of our member states.”
Under the agreement, TIB Development Bank will receive a TZS 30 billion line of credit to support its five-year Corporate Strategic Plan (2021-2025), which targets accelerating national economic growth, fostering local entrepreneurship, and advancing good corporate governance. The funding is earmarked for long-term financing of 20–25 projects in sectors aligned with Tanzania’s Vision 2025, including manufacturing, tourism, services, mining, real estate and infrastructure. This targeted support aims to transition Tanzania into a middle-income economy by bolstering SMEs and driving sustainable development.
The TZS 20 billion funding to TMRC will facilitate access to medium and long-term mortgage financing for regulated commercial banks and financial institutions, otherwise known as Primary Mortgage Lenders (PMLs). This facility will directly address Tanzania’s persistent housing deficit, enhance the supply of affordable homes and support the government’s Big 4 Development and Vision 2025 agendas.
Azania Bank Plc, a leading indigenous private bank, will benefit from a TZs 13.2 billion facility designated for lending to SMEs operating in manufacturing, renewable energy, construction, education, health and the agricultural value chain. This infusion of capital will enable Azania Bank to provide critical USD-denominated loans, supporting a new generation of Tanzanian entrepreneurs and ensuring that businesses have the resources they need to expand and create jobs.
On his part, Benard Mono, Acting Director General of EADB, provided insight into the bank's strategic vision, stating: "Tanzania's economic landscape is driven by a complex interplay of factors that demand innovative financial solutions, which is precisely what we at EADB strive to deliver. As we forge these partnerships, we remain acutely aware of the transformative potential they hold for businesses, communities and individuals across Tanzania.”
The breakfast event, which follows the Bank’s February engagement in Kampala, brought together various stakeholders to share updates on EADB’s operational performance, discuss new product offerings and gather insights that will shape future interventions.
For media queries contact;
Samantha Abaho | sabaho@eadb.org |
