Tanzania is seeking to expand domestic financing for carbon projects through a new partnership between CRDB Bank and the National Carbon Monitoring Centre, as the government looks to attract green investment, create jobs and make carbon trading a larger contributor to economic development.

Minister of State in the Vice-President’s Office for Union and Environment Hamad Yussuf Masauni urged the institutions to work together to finance, develop and promote carbon projects. He made the call Nov. 13, 2026, during the signing of a memorandum of understanding in Antalya, Türkiye.

Financing green projects

The agreement was signed on the sidelines of the United Nations Climate Change Conference, COP31. Masauni said climate change remains a major obstacle to sustainable development, requiring innovative financing, stronger legal frameworks and closer cooperation between government institutions and private-sector investors.

Tanzania’s Development Vision 2050 identifies carbon trading as an instrument for economic transformation, with the potential to attract investment and mobilize climate finance. Masauni said the government wants projects to deliver benefits beyond carbon-credit sales, including employment, technology transfers and improved livelihoods for local communities.

He also called on CRDB to develop financial products such as loans, guarantees and other investment instruments for carbon-project owners and developers. The bank would assess financing applications under its lending standards and applicable legal requirements, giving businesses greater access to capital within Tanzania.

Banks target local investment

National Carbon Monitoring Centre Executive Director Kathryn Kigaraba said the partnership would help carbon projects secure financing locally and strengthen Tanzania’s capacity to develop the carbon-trading market. The centre is responsible for monitoring greenhouse gas emissions and supporting the country’s carbon-market framework.

CRDB Chief Executive Officer Abdulmajid Nsekela said the agreement would create investment opportunities, attract capital and support projects with economic and social benefits. Permanent Secretary Richard Muyungi said the partnership would also advance Development Vision 2050 by directing investment toward productive activities.

CRDB expands across East and Central Africa

Founded in 1996, CRDB has expanded into a regional banking group with more than 240 branches, 650 ATMs and 33,000 agents. Listed on the Dar es Salaam Stock Exchange since June 2009, the lender operates in Tanzania, Burundi and the Democratic Republic of Congo, with a strong presence in retail, corporate and regional banking.

The National Carbon Monitoring Centre is Tanzania’s government institution responsible for greenhouse gas inventories, emissions monitoring and carbon-trading oversight. Its partnership with CRDB is intended to connect that regulatory and technical capacity with domestic banking services, potentially giving developers a local source of capital for eligible carbon projects.