Export-Import Bank of the U.S. Signs $500M MOU with Tanzania

WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis and the Honorable Dr. Mwigulu Lameck Nchemba Madelu, Minister for Finance and Planning for the United Republic of Tanzania, officially signed a memorandum of understanding (MOU) to facilitate up to $500 million in U.S. export financing to the United Republic of Tanzania. The MOU will deepen the commercial relationship between the two countries and support exports in a variety of sectors, including infrastructure, transportation, digital technology, climate and energy security, and power generation and distribution projects. During the signing ceremony, the leaders were joined by multiple government leaders, including Zanzibar Minister Dr. Saada Mkuya Salum, Permanent Secretary Dr. Natu Mwamba, Zanzibar Principal Secretary Dr. Akil Juma Malik, and Dr. Elsie Sia Kanza, Ambassador of the United Republic of Tanzania to the United States and Mexico. U.S. Ambassador to Tanzania Michael A. Battle Sr. and his team were critical in helping contribute to and support the MOU.

“While supporting U.S. exports to sub-Saharan Africa is a core element of EXIM’s charter, we are eager to see what new projects may result from this newly signed MOU and look forward to continued opportunities to strengthen the United States-Tanzania commercial relationship,” said Chair Lewis.

The MOU also represents the Administration’s commitment to revitalize partnerships and collaboration within Africa and builds on EXIM’s congressional mandate to increase U.S. exporters’ relationships in sub-Saharan Africa. Vice President Kamala Harris first announced the MOU during her recent visit to Tanzania and other countries in Africa. Chair Lewis also traveled to Zambia and Kenya earlier this month in support of Vice President Harris’ mission, meeting with business leaders, government representatives and partners to expand EXIM’s footprint on the continent.