Canada’s Minister of International Trade The Honorable Chrystia Freeland, together with the Honourable Marie-Claude Bibeau, Minister of International Development and La Francophone, today announced funding that will provide opportunities for Tanzania’s poorest and most vulnerable people by fostering a better environment for small and medium-sized enterprises.
Canada is contributing $15 million to the project over five years. Minister Freeland made the announcement on the margins of the World Trade Organization’s 10th Ministerial Conference in Nairobi, Kenya.
“Canada recognizes that small and medium-sized enterprises are important drivers of economic growth and poverty reduction. By equipping Tanzanian entrepreneurs, especially women, with tools to start and grow their businesses, we are supporting their ability to boost economic growth and bring about positive change in their homes and communities.” Said Freeland
The Government of Canada is contributing funding to Cuso International’s Local Enterprise Development project to help make it easier for small and medium-sized enterprises, especially those owned by women, to secure contracts for goods and services with businesses in the mining, gas and agricultural sectors.
It is anticipated that the project will create up to 2,500 new jobs and assist up to 1,760 Tanzanian small and medium-sized enterprises by providing marketing expertise and training, as well as greater access to financing to start, operate and expand businesses.