DAR ES SALAAM, Oct. 7 — Tanzania requires about 19.3 billion U.S. dollars to implement climate actions under its Nationally Determined Contribution, of which about 12 billion dollars have yet to be mobilized, Finance Minister Khamis Mussa Omar said on Monday.
Speaking at an international climate finance forum in Dar es Salaam, Omar said Tanzania contributes only about 0.31 percent of global greenhouse gas emissions but faces significant economic and livelihood impacts from climate change. He called for closer, stronger cooperation among the government, development partners, international investors and the private sector to mobilize financing for climate action. Omar identified inadequate financing, an imbalance between mitigation and adaptation funding, over-reliance on loans rather than grants, slow disbursement and high capital costs as major challenges facing developing countries. The minister urged international partners to increase concessional financing and grants, simplify access to climate funds and support innovative financial instruments while ensuring national ownership of climate projects. Omar said renewable energy accounts for 68 percent of Tanzania’s 4,121-megawatt power system, adding that the government is exploring a sovereign green bond to diversify sustainable financing.
Xinhua proud partner of the African Youth Newspaper
