Dar es Salaam. The World Bank’s regional leadership transition for Tanzania, Malawi, Zambia, and Zimbabwe has officially taken effect following a formal farewell for the outgoing Country Director, Mr Nathan Belete, and the introduction of his successor, Mr Firas Raad.
The transition was marked during an official reception held at the Hyatt Hotel in Dar es Salaam, where the Prime Minister, Dr Mwigulu Lameck Nchemba, attended as the chief guest.
Speaking on behalf of the Ministry of Finance, the Deputy Minister for Finance, Mr Mshamu Ali Munde, expressed the government’s profound appreciation for the World Bank’s substantial contribution to Tanzania’s socio-economic development agenda and reaffirmed the nation’s commitment to strengthening this strategic partnership.
During Mr Belete’s tenure, the collaboration yielded significant financial mobilization, with approximately $4.27 billion secured for various projects and programmes across critical sectors.
These included transport, energy, water, agriculture, health, education, urban development, social protection, policy reform, and climate change mitigation.
According to the Permanent Secretary of the ministry of Finance and Paymaster General, Dr Natu El-Maamry Mwamba, the total value of the World Bank’s portfolio in Tanzania reached $8.95 billion by 30 April 2026, visibly transforming local livelihoods and anchoring national economic reforms.
Dr Mwamba commended Mr Belete’s administrative acumen, highlighting his ability to oversee timely project execution, accelerate fund disbursements, and drive institutional efficiency to achieve measurable outcomes.
Reflecting on his tenure, Mr Belete praised the Tanzanian government’s strategic focus, noting that the political leadership consistently advocated for large-scale, impactful investments over minor, fragmented initiatives.
He recalled how leadership pushed for substantial financial commitments to catalyze genuine economic transformation rather than small-scale projects.
This rigorous approach enabled Tanzania to double its Development Policy Operations (DPO) funding from $250 million to over $500 million annually, facilitating critical advancements in education, private sector growth, and Public-Private Partnerships (PPP).
Mr Belete further lauded Tanzania as one of the most efficient utilizers of World Bank funding on the African continent.
Welcoming the incoming Country Director, Mr Munde assured Mr Firas Raad that the Ministry of Finance stands ready to work closely with him to advance mutual development priorities, particularly as the nation progresses with the implementation of the Tanzania National Development Vision 2050.
The high-profile event was also attended by key government officials, including the Minister for Works, Mr Abdallah Hamis Ulega, the Deputy Minister for Foreign Affairs and East African Cooperation, Dr Ngwaru Jumanne Maghembe, the Permanent Secretary in the ministry of Education, Science and Technology, Professor Carolyene Nombo, and the Deputy Governor of the Bank of Tanzania, Ms Sauda Msemo.
