Tanzania

Economy:
Tanzania is one of the poorest countries in the world, with a per capita GDP of just $700. The economy depends heavily on agriculture, which accounts for almost half of GDP, provides 85% of exports, and employs 80% of the work force. The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate out-of-date economic infrastructure and to alleviate poverty. Continued donor assistance and solid macroeconomic policies supported real GDP growth of more than 6% in 2005.

FINCA's Village Bank loans empower women, inculcating leadership skills and confidence in them. Our loans further the government's poverty reduction strategies by allowing communities access to better medical services, food and education, particularly improving the wellbeing of people in rural areas.

Climate for microfinance:
• Tanzania is one of the most peaceful and stable countries in Africa.
• Banking reforms have helped increase private-sector growth and investment.
• FINCA grew its client base by over 200% since 2001 by expanding to cover 60% of the country and introducing new products
• FINCA has overcome a severe liquidity crunch by commercial borrowing

FINCA Tanzania works in Dar es Salaam and the coastal region, Morogoro, Dodoma, Ifakara, Iringa, Mbeya, Njombe, Mwanza, Mara, Shinyanga, Tabora, and Bukoba; it now covers about 40% of the country overall, including 65% in population centers.