(MENAFN) The governments of Tanzania and South Korea on Tuesday, December 8, inked a structure agreement that will allow Tanzania to access concessional loans from the latter's Economic Development Cooperation Fund (EDCF) to a maximum of USD300 million to fund expansion projects.
The accord was inked in the commercial capital Dar es Salaam between the permanent secretary of the Ministry of Finance and Planning, Doto James, and Cho Tae-Ick, the South Korean diplomat to Tanzania.
James stated that the loan will be used to fund the completion of four schemes, counting the building of two substations for Kigoma-Nyakanazi power transmission line, the construction of the New Selander Bridge in Dar es Salaam, the development of national land statistics infrastructure and the development in sewerage services in the capital Dodoma.
MENAFN09122020000045011134ID1101255740
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.