TANZANIA GENDER & BLUE ECONOMY - CRDB BANK PLC

This loan aims to provide financing to CRDB Bank Plc for onward lending to private sector entities, mostly SMEs, with a particular focus on women owned or managed businesses and enterprises operating in the blue economy sectors.

Financing of small/medium projects carried out by SMEs, mid-caps and co-operatives.

The operation concerns financing to a number of commercial banks in Tanzania for on-lending to eligible SMEs, MidCaps, and Cooperatives, with a focus on women owned or managed businesses and enterprises operating in the blue economy sectors. As such, it will tackle the long-standing credit constraints for SMEs, by improving access to credit and tailoring loan terms to the specificities of women led businesses and the blue economy sector. It is envisaged that the operation may benefit from potential EU financial support including technical assistance which will address certain gaps and constraints limiting access to finance by SMEs operating in these underserved segments. Under the operation, financial intermediaries will be able to access credit lines in both hard and potentially local currency. The credit lines will carry longer tenors than commonly available in Tanzania thereby supporting FIs to diversify and stabilise their funding structure while ensuring final beneficiaries access financing that matches the economic life of assets financed. The operation will benefit from EIB's gender and blue economy technical expertise and financial structuring.

The operation will contribute to addressing the market failure of imperfect/asymmetric information and will provide positive externalities. Through its thematic themes, the operation will help increase resilience of local communities as well as contribute to gender equality. The project responds to a number of specialized national policies and planning frameworks focused on gender and blue economy which are at the heart of the development and political agenda in Tanzania. The project is under the auspices of the EU's external action, the Neighbourhood, Development and International Cooperation Instrument (NDICI) and is aligned with the country's National Development Vision for 2025 and its implementation plan as well as the EU Multiannual Indicative Program for the period 2021-2027. It will also contribute to several Sustainable Development Goals.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.