CONSULTANCY SERVICES TO PROVIDE RESEARCH, ANALYSIS AND CONSULTATION CAPACITY FOR THE TANZANIA SDG INVESTOR MAP
Overview :
Overview : With a population of approximately 58 million people and the GDP of around US$ 63 billion, Tanzania is the second largest economy in the East African Community (EAC). The performance has largely been driven by the services and industry sectors. The COVID-19 pandemic is expected to weigh heavily on the economy with estimates now at a modest 2.0% GDP growth in 2020 from an earlier estimate of 5.30%. The drop is largely driven by a decline in international trade and tourism. The situation is not unique to Tanzania as the global economy contracted in 2020. However, the medium-term outlook is positive as growth is projected to remain strong, driven by robust performance in services and manufacturing sectors, and supported by public investment. Gold has been the sole export to benefit from the pandemic due to the sharp rise in international prices between 2019 and 2020. The longer-term growth prospects are expected to be boosted by the stability in gold price, recovery in the tourism sector and growth of the service industry and trade.
Through the Tanzania Development Vision 2025 (TDV 2025), which is being realized through frameworks of Five-Year Development Plans (FYDP I-III), the Tanzanian government is focusing on nurturing an industrial economy, as well as creating economic transformation and human development with high-quality livelihoods. The goal is achieving middle-income status, while making progress on the sustainable development goals (SDGs), which are mainstreamed into the national development plans and strategies and which serve as a window for sustainable investment opportunities.
Tanzania is, like the rest of the world, affected by this time of unprecedented global challenges. To continue its projected growth despite the COVID-19 pandemic and to achieve its TDV 2025, sustainable finance will need to be utilized as a driving force for social and economic resilience. Public and private finance are essential for recovery from the COVID-19 pandemic, and from the wide-ranging effects on the achievements of the SDGs. Rallying private sector participation and strengthening private and public sector networks for achieving sustainable and inclusive economic growth has taken on new urgency. National resource mobilization and increased commitments from private investors and enterprises will be needed for recovery, while maintaining progress towards the achievement of the SDGs by 2030. In order to achieve transformational changes in health, climate, environment, education, agriculture, gender equality, and the eradication of poverty in all its forms, greater private sector engagement and SDG aligned investments are critically needed. Because there is a missing link between national development plans and the financial resources needed to achieve them, various studies are underway on innovative financing, including the Integrated National Financing Framework (INFF) which is a tool for Tanzania to strengthen its planning process and finance sustainable development. Coupled with the Development Finance Assessment (DFA) the government will be able to identify opportunities to mobilize additional sources of finance and use existing financial resources more efficiently to achieve the SDGs by 2030.................etc..........
Click here to visit the original announcement on the recruiting organization's website.
