Dar es Salaam. In a critical virtual meeting of the Southern African Development Community (SADC) Ministers of Finance and Investment, Tanzania’s Finance Minister, Dr Mwigulu Nchemba, on Thursday emphasized the need for strategic regional projects to drive the region’s sustainable economic growth.
Represented by Dr Natu Mwamba, the Permanent Secretary of Tanzania’s Ministry of Finance, Dr Nchemba praised the ongoing efforts to establish the SADC Regional Development Fund, underscoring its potential to provide essential funding for these projects.
Speaking through Dr Mwamba, Dr Nchemba highlighted that for SADC to progress and ensure long-term economic stability, it was crucial to focus on implementing key regional initiatives.
He stressed that these projects could only succeed if SADC countries secured resources from diverse, affordable funding sources—an approach that the soon-to-be-established Regional Development Fund would facilitate.
“Implementing strategic regional projects is the pathway for SADC’s future success. However, securing funding for these projects remains a challenge,” Dr Nchemba stated.
“The establishment of the SADC Regional Development Fund is an important step toward providing the necessary financial resources at affordable costs, which will enable our countries to thrive despite the growing economic challenges we face.”
He urged SADC member states to support the fund’s creation, viewing it as a vital tool for securing the region’s economic growth.
The Minister’s message reinforced the idea that a coordinated, collective effort was necessary to ensure the successful execution of these projects, which would strengthen the region’s resilience and development.
