The study analyses how innovative financial instruments can be incorporated into resources mobilisation strategies to finance national development in line with enhancement of effectiveness and efficiency in Public Finance Management in Tanzania. The fundamental question is what is the space for innovative financing instruments in financing development in Tanzania? Innovative finance refers to any financing approaches that assist to generate additional funds by tapping new funding sources beyond conventional mechanisms or by engaging new actors such as the private sector. Innovative financing is meant to make financial flows more result oriented. The analysis reveals that utilisation of innovative sources is still a relatively new approach globally; despite its benefits, innovative financing remains a small component of public sector development spending.
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