Building on the Bank of Tanzania's ongoing efforts to improve its ability to efficiently carry out its central banking functions, USTDA awarded a grant today to assist the Bank in modernizing its information and communications technology infrastructure. This modernization will allow the Bank to significantly increase its efficiency and effectiveness as it serves its critical role of maintaining price stability. Addressing concerns regarding the Banks IT infrastructure, the grant will enable the Bank to review its existing applications, security policies, and disaster recovery and business continuity plans. Furthermore, the grant will allow for an analysis of key systems and processes in the Bank's operations. The Bank's decision-makers will also be exposed to U.S. ICT suppliers which could lead to U.S. jobs and exports. In a signing ceremony at the U.S. Embassy in Dar es Salaam, U.S. Ambassador Alfonso E. Lenhardt conferred the $498,000 technical assistance grant to the Bank of Tazania's Governor and Chairman Professor Benno Ndulu. Ambassador Lenhardt discussed how the grant will help reform the Bank's ICT capabilities. This USTDA grant will support the Banks efforts to build the technical capabilities to provide real-time cash balance information to policymakers that will help build capacity for more effective fiscal policy formulation, budget execution and transparency, said Ambassador Lenhardt. "The grant also builds on the U.S. Department of the Treasury's efforts to augment the Banks drive towards domestic capital market development and more efficient public financial management." The opportunity to conduct the USTDA-funded technical assistance for the Bank of Tanzania will be competed on the Federal Business Opportunities (FBO) website. A link to the FBO announcement will be posted to USTDAs website at www.ustda.gov. Interested U.S. firms should submit proposals according to the instructions in the FBO announcement. The Bank of Tanzania will select the U.S. contractor that will complete the study. # # # The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds technical assistance, feasibility studies, training, orientation visits and business workshops to support development of modern infrastructure and a fair and open trading environment. USTDAs efforts create an enabling environment for trade, investment and sustainable economic development.