DAR ES SALAAM, Nov. 5 -- NMB Bank Plc has secured a 30m US dollars loan from China Development Bank (CDB) to expand access to financing for small and medium-sized enterprises (SMEs) in Tanzania, providing additional capital to support business expansion, investment and trade.

The financing agreement was signed at NMB Banks headquarters in Dar es Salaam, strengthening cooperation between the two financial institutions and increasing the banks capacity to support Tanzanian enterprises, including businesses engaged in trade with China.

Speaking at the signing ceremony, NMB Bank Managing Director and Chief Executive Officer, Ruth Zaipuna, said limited access to adequate financing remained a major challenge for entrepreneurs seeking to expan...