The European Union (EU) has organized a special session titled “Growth and Access to EU Funds” to enable Tanzanian entrepreneurs to take advantage of financial opportunities under the Global Gateway strategy.

▪️Funding Agreements Signed

Several funding agreements were signed between European Development Banks and Tanzanian banks (NMB, CRDB, and KCB) to enhance lending capacity for small and medium enterprises (SMEs).

▪️TZS 11.23 Billion Grant for Entrepreneurs

A new grant agreement worth TSh. 11.23 billion (EUR 4 million) was signed between the European Union and the Financial Sector Deepening Trust (FSDT), aimed at supporting small businesses operated by women and youth.

▪️EU Support in Promoting Business

Cedric Merel of the European Union emphasized the EU’s support in improving Tanzania’s business environment through investment and financing legal reform agendas.

▪️Global Gateway Strategy Empowers Business

The session provided insights into the Global Gateway strategy, which aims to address global challenges and strengthen business through grants, loans, and sustainable investments worldwide.