The Tanzanian government has ordered a partnership between CRDB Bank and the National Carbon Monitoring Centre (NCMC) to finance and advance carbon projects. This move aims to expand green investment and turn carbon trading into a driver of economic growth and job creation. Minister of State in the Vice-President's Office, Hamad Yussuf Masauni, made the call during the signing of a Memorandum of Understanding (MoU) between NCMC and CRDB Bank in Antalya, Türkiye.
Minister Masauni emphasized that climate change remains a major challenge to sustainable development, requiring innovative financing mechanisms, strong legal frameworks, and strategic partnerships between the public and private sectors. He said the government, through the National Development Vision 2050, has identified carbon trading as an important area of economic transformation capable of attracting green investment, mobilizing climate finance, and supporting national economic development.
The government wants to ensure carbon trading goes beyond generating and selling carbon credits to deliver tangible economic, social, and environmental benefits. These benefits include improved livelihoods, increased employment, technology transfer, and greater participation of Tanzanian communities and businesses. Minister Masauni urged CRDB to develop innovative financial products, including loans, guarantees, and other investment instruments, to enable carbon project owners and developers to access capital.
NCMC Executive Director Kathryn Kigaraba said the partnership will enable carbon projects to access financing locally, strengthening the country's capacity to develop and expand carbon trading. This move is expected to support the implementation of the National Development Vision 2050, with carbon trading serving as an important instrument for attracting investment and stimulating productive activities.
CRDB Chief Executive Officer Abdulmajid Nsekela said the agreement will open up investment opportunities, attract capital, and facilitate carbon projects with economic and social benefits. The partnership is expected to play a crucial role in driving green investment and job creation in Tanzania. The signing ceremony took place on November 13, 2026, on the sidelines of the United Nations Climate Change Conference (COP31).
The Permanent Secretary in the Vice-President's Office, Richard Muyungi, said the partnership will support the implementation of the National Development Vision 2050. He emphasized that carbon trading will serve as an important instrument for attracting investment and stimulating productive activities. The partnership between CRDB Bank and NCMC is expected to have a positive impact on Tanzania's economy and environment.
The collaboration between CRDB Bank and NCMC is a significant step towards unlocking domestic financing for carbon projects in Tanzania. The partnership is expected to strengthen the country's capacity to develop and expand carbon trading, driving green investment and job creation. Key aspects of the partnership include developing innovative financial products and enabling carbon projects to access financing locally.
Key points
- The partnership aims to strengthen collaboration in financing, developing, and promoting carbon projects in Tanzania.
- The government seeks to ensure carbon trading delivers tangible economic, social, and environmental benefits.
- The partnership will support the implementation of the National Development Vision 2050.
