THE foreign Affairs and East African Cooperation Minister, Prof Palamagamba Kabudi has held talks with the Chief Executive Officer of the Norwegian Investment Fund for Developing Countries (Norfund), Mr Tellef Thorleifsson in Dar es Salaam on Thursday that aim to explore investment and trade opportunities between the two countries.

“We are certainly pleased with the Africado project in Siha District, Kilimanjaro as it has been producing avocados that are exported to various European countries like the Netherlands, United Kingdom, France, Spain, Portugal, and the Middle East, which has considerably helped the government to boost its GDP,” he said.

Professor Kabudi added that, the project has also provided around 600 employment opportunities to the Tanzanian citizens.

In his remarks, Mr Thorleifsson said the purpose of the fund was to invest in various projects within sub-Saharan Africa that will help the countries’ economy to grow fast.

“By the end of 2018 the fund that was already invested in the country was 160m/- US dollars injected in various projects covering energy, finance, food and agriculture sectors. The investment has made Tanzania the fourth country in benefiting from Norfund projects,” he stated.

Norfund is a subsidiary of the Norwegian government responsible for investing capital and expertise in creating various sustainable projects in developing countries with the aim of contributing to economic and social development, explained Mr Thorleifsson.

The visit provided an opportunity for both parties to discuss how best to improve their priority areas in the investment sector

Source: Daily News

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