Sunday, September 1, 2024

US Pledges Support for Regional Integration and Economic Development in Tanzania



 The United States government has committed to strengthening regional integration and promoting sustainable economic development in Tanzania and its neighboring countries. This was announced by Helaina Matza, the Acting Special Coordinator for the Partnership for Global Infrastructure and Investment (PGI), during a virtual Digital Press Briefing on Thursday.

Following her visit to the Democratic Republic of the Congo (DRC) and Tanzania from August 21-28, Ms. Matza discussed efforts to expand the Lobito Corridor, an initiative aimed at connecting the DRC and Tanzania to create a Trans-Africa Corridor that links the Atlantic Ocean to the Indian Ocean.

"The mission of this trip is to expand the Trans-Africa Corridor, re-launch our partnership with the DRC, and engage with the Tanzanian government and private sector," Ms. Matza stated. She highlighted that the corridor is not just about infrastructure but also about shaping the future of the region by fostering economic growth, job creation, and enhanced trade.

The PGI initiative focuses on building high-quality, sustainable infrastructure while emphasizing transparency, good governance, and investments in key sectors such as agriculture, digital connectivity, food security, and clean energy. One of the key goals is to improve trade logistics, such as reducing transit times for Tanzanian agribusinesses from 45 days to 36 hours, which could significantly expand market access.

To achieve these objectives, Ms. Matza emphasized the importance of collaborating with the Tanzanian government, regional stakeholders, and the private sector to address local needs and effectively extend the Trans-Africa Corridor.

During her visit, Ms. Matza also announced a new partnership with Lifezone Metals to support a nickel project in Tanzania, including the development of a special economic zone. This partnership is expected to further bolster Tanzania's economic growth and regional integration efforts.

No comments:

Post a Comment