Tanzania is moving to secure domestic financing for carbon projects as part of a broader strategy to expand green investment and position carbon trading as an engine for economic growth and job creation. The government sealed this commitment on November 13, 2026, when the National Carbon Monitoring Centre (NCMC) and CRDB Bank signed a Memorandum of Understanding in Antalya, Türkiye, during the United Nations Climate Change Conference (COP31).
The Minister of State in the Vice-President's Office (Union and Environment), Hamad Yussuf Masauni, called on CRDB Bank and the NCMC to strengthen collaboration in financing, developing and promoting carbon projects. He said climate change remains a significant obstacle to sustainable development, requiring new financing approaches, robust legal frameworks and teamwork between government and the private sector. The government has identified carbon trading through its National Development Vision 2050 as a key area of economic change that can pull in green investment, bring in climate finance and support national development.
Minister Masauni stressed that the government wants carbon trading to deliver more than just carbon credits. The country aims to generate tangible economic, social and environmental gains, including better living standards, more jobs, technology transfer and greater involvement of Tanzanian communities and businesses. He urged CRDB to create new financial products such as loans, guarantees and other investment tools to help carbon project owners and developers raise capital, subject to banking assessments and legal requirements.
NCMC Executive Director Kathryn Kigaraba said the partnership will allow carbon projects to tap financing locally, boosting the country's ability to build and grow its carbon trading sector. CRDB Chief Executive Officer Abdulmajid Nsekela stated that the agreement will unlock investment opportunities, draw in capital and back carbon projects with economic and social benefits. The Permanent Secretary in the Vice-President's Office, Richard Muyungi, added that the partnership will help put Development Vision 2050 into action, with carbon trading serving as a tool to pull investment and drive productive activity.