Tanzania finance minister thanks AfDB

14 April 2010

Mustafa Mkulo, finance minister for Tanzania, has thanked the African Development bank (AfDB) for its support.

Speaking at the AfDB's annual stakeholders cocktail, the minister explained how useful the finances from the bank have been for the country.

Private and public sector representatives were present at the event, which saw AfDB resident representative for Tanzania Sipho Moyo hand over chairmanship of Tanzania's General Budget Support (GBS) to Norway.

Mr Mkulo said the AfDB's role was "the glue that held government and donors together at a time when the relationship would have collapsed and GBS would have ended for Tanzania".

Some 12.5 per cent of Tanzania's 2009-10 budget originates from the GBS, for which 14 members make up the donor group.

The AfDB will now act as outgoing chair for one more year and will continue to assist the GBS.

Tanzania has recently hit the headlines after it was announced uranium mining could soon begin in the country.

It could mean the nation becomes less reliant on gold-mining, reports stated.

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