Friday 3rd, May 2024
canara news

India extends USD 92 million Line of Credit to Tanzania

Published On : 10 Jul 2016


Dar-es-Salaam, (PTI) Seeking to enhance its ties with resource-rich Tanzania, India today extended its full support to it to meet its development needs and signed five agreements, including one for providing a Line of Credit of USD 92 million in the water resources sector.

Describing India as a trusted partner in meeting Tanzania's development priorities, Prime Minister Narendra Modi said he along with President John Pombe Joseph Magufuli "agreed to deepen our overall defence and security partnership, especially in the maritime domain".

"Our in-depth discussions on regional and global issues reflected our considerable convergence on issues of common interest and concern," he said.

"India's cooperation with Tanzania will always be as per your needs and priorities," Modi said at a joint press interaction after his bilateral meeting with President Magufuli.

The two sides signed an agreement under which India will provide a Line of Credit of USD 92 million for rehabilitation and improvement of Zanzibar's water supply system.

Other agreements signed include an MoU on water resource management and development, MoU for establishment of vocational training centre at Zanzibar, MoU on visa waiver for diplomatic/official passport holders and an agreement between National Small Industries Corporation of India and Small Industries Development Organisation Tanzania.

Prime Minister said the two countries are also working on a number of other water projects for 17 cities in Tanzania.

"For this India is willing to consider an additional USD 500 million line of concessional credit," he said.

Describing Public Health as another important area of bilateral engagement, Modi said India is ready to meet the healthcare priorities of the Tanzanian government, including of supply of medicines and equipment.

"I am told that an Indian radio-therapy machine is being installed at Bugando medical centre to treat cancer patients," he said.

He said during his meeting with President Magufuli, they detailed discussions on the full spectrum of bilateral partnership.

"Our focus was to shape an action oriented agenda of cooperation, so that we talk less of potential and more of achievements on the ground. We agreed that our common desire of economic prosperity for our societies is creating new opportunities for expanding our cooperation," he said.

To achieve this, the two nations agreed to deepen partnership in agriculture and food security, including through enhanced export of pulses from Tanzania to India.

They also decided to work together in development and use of natural gas.

India agreed to partner Tanzania in building of industrial economy, capacities and institutions.

The two leaders also decided to deepen bilateral trade and investment partnership by encouraging greater industry to industry ties.







More News

Bhagwat demands law for Ram temple construction in Ayodhya
Bhagwat demands law for Ram temple construction in Ayodhya
Break your silence on Rafale deal: Congress tells Modi
Break your silence on Rafale deal: Congress tells Modi
BJP's Shah says allegations against Minister Akbar need to be verified
BJP's Shah says allegations against Minister Akbar need to be verified

Write your Comments

Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. canaranews.com will not be responsible for any defamatory message posted under this article.

Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on CANARANEWS to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using canaranews will be purely at your own risk, and in no way will canaranews.com be held responsible.