DODOMA, June 27 -- THE National Assembly has ratified the Agreement for the Establishment of the Africa Finance Corporation (AFC), paving the way for Tanzania to access long-term investment financing aimed at boosting infrastructure, industrial growth and economic development.

Presenting the agreement in the National Assembly yesterday, Finance Minister Dr Mwigulu Nchemba said Tanzanias ratification would enable the countrys private sector and local financial institutions to benefit from AFC funding.

The financing will support lending and refinancing across multiple sectors of the economy.

Dr Mwigulu noted that joining the AFC will enhance national income, spur employment creation and improve the circulation of both local and foreign c...