IMF Approves $935.6 Million Funding for Tanzania to Support Government Budget and Climate Change Projects

The Executive Board of the International Monetary Fund (IMF) has approved a total of USD 935.6 million (Tsh 2.45 trillion) for the Government of Tanzania as the completion of the 3rd Review of the Extended Credit Facility (ECF) program for Tanzania, signed in July 2022.

According to an IMF statement, USD 149.4 million (Tsh 392.17 billion) of this amount will go to the Government's budget, and USD 786.2 million (Tsh 2.06 trillion) will be allocated to Climate Change Mitigation Projects.

Previously, in July 2022, the IMF Executive Board approved a 40-month augmentation under the Extended Credit Facility (ECF) program for Tanzania, which enabled an agreement to obtain a loan of USD 1,046.4 million.