What You Need to Know
Tanzania’s Minister of State for Finance in Zanzibar, Dr. Juma Malik Akil, met with Standard Chartered Bank officials in Washington D.C. to explore financial resources for the construction of the Modern Railway-SGR. The discussions took place during the 2026 IMF/WBG Spring Meetings, focusing on ongoing cooperation and funding opportunities.
Africa-Press – Tanzania. THE Minister of State in the President’s Office for Finance and Planning in Zanzibar, Dr Juma Malik Akil, on behalf of the Minister of Finance, Ambassador Khamis Mussa Omar, held talks with a delegation from Standard Chartered Bank led by the Chief Executive Officer for African Customer Management, Dalu Ajene, at the Tanzanian Embassy in Washington D.C., United States.
The talks were held on the sidelines of the 2026 IMF/WBG Spring Meetings being held in the city.
They discussed various issues regarding the ongoing cooperation between the Bank and Tanzania, especially the search for financial resources for the construction of the Modern Railway-SGR.
The meeting was also attended by the Permanent Secretary, Ministry of Finance, Dr Natu El-Maamry Mwamba, the Permanent Secretary, Office of the President-Finance and Planning Zanzibar, Aboud Hassan Mwinyi, the Governor of the Central Bank of Tanzania, Emmanuel Tutuba, the Deputy Governor of the Central Bank of Tanzania, Dr Yamungu Kayandabila, and other senior officials of the Government and the Bank.
Tanzania has been actively seeking financial support for its infrastructure projects, particularly the Standard Gauge Railway (SGR), which aims to enhance connectivity and boost economic growth. The SGR project is crucial for improving transport efficiency and facilitating trade within the region, aligning with Tanzania’s broader development goals. Engaging with international financial institutions like Standard Chartered is part of Tanzania’s strategy to secure necessary funding for such large-scale initiatives.
