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Bulgaria’s Finance Leaders Engage in WBG, IMF Meetings; CRDB Bank Boosts Tanzania SME’s

Bulgaria’s Finance Leaders Engage in WBG, IMF Meetings; CRDB Bank Boosts Tanzania SME's

Bulgaria’s finance leaders, Assen Vassilev and Dimitar Radev, are actively participating in the 2023 Annual Meetings of the World Bank Group (WBG) and International Monetary Fund (IMF), held this year in Marrakech. Their focus is on addressing global economic issues, risks, and prospects, and pushing for organizational reforms amidst persistent global crises. They are also engaging with WBG and IMF management teams as well as financial sector representatives. This year’s meeting is significant as it marks the first African event since Nairobi hosted it back in 1973.

In parallel, at the same meetings in Marrakech, Abdulmajid Nsekela, CEO of CRDB Bank Plc, outlined the bank’s commitment to empowering Tanzania’s 3.2 million small and medium-sized enterprises (SMEs). These businesses contribute 27% to Tanzania’s GDP and play a critical role in eradicating poverty. Over the past three years, CRDB has loaned Sh3.4 trillion to over 50,000 SMEs and raised Sh500 billion through international partnerships.

The bank also supports youth and women entrepreneurship via its ‘IMBEJU’ program under the CRDB Bank Foundation. CRDB is deeply involved in green project financing, issuing Tanzania’s first ‘Kijani Bond’ for sustainability projects. The bank also launched the $200 million Tanzania Agriculture Climate Adaptation Technology Deployment Programme (TACATDP) at the Africa Food Systems Forum (AGRF) meeting.

The Bank of Tanzania (BoT) has praised CRDB’s strategic public-private partnerships that are driving financial inclusion and boosting capital to invest in strategic sectors of the economy during sideline meetings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com

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