This report details lessons from Tanzania's development experience gained during the past four decades. It evaluates the imperatives for a higher sustained growth and a better livelihood for its citizens in the future. The background papers, presented in this report, review and evaluate Tanzania's actual growth and poverty reduction performance. This report also analyzes the main reasons for Tanzania's performance record and highlights the strategic and institutional imperatives needed for developing sustained growth and poverty reduction in Tanzania. The analysis focuses on the development of the private sector and its increased role in the growth and modernization of the Tanzanian economy.