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James E. Sinclair,
Chairman & CEO,
Tanzanian Royalty Exploration Corporation |
| | April 17, 2010
China, Tanzania sign loan agreements on ICT, air transport infrastructure
Author: Jim Sinclair
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| | - http://english.people.com.cn/90001/90776/90883/6954383.html
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| | China, Tanzania sign loan agreements on ICT, air transport infrastructure
10:33, April 17, 2010
The Government of the United Republic of Tanzania and the Exim Bank of China on Friday signed two concessional loan agreements to finance the Tanzanian National Information and Communication Technology (ICT) Broadband infrastructure Backbone Network Project and upgrading of the Zanzibar International Airport.
Under the National ICT broadband infrastructure Backbone Network Project (Phase II), the Exim Bank of China will extend to Tanzania 700 million RMB yuan (about 100 million U.S. dollars) to support the implementation of the project, which aims to contribute significantly to the Tanzanian government's effort to improve communication technology in Tanzania, according to the signed agreement.
In the second project, the Exim Bank of China will provide to the Tanzanian government 481 million RMB yuan (about 70 million U. S. dollars) for the purpose of supporting the upgrading of Tanzania's Zanzibar International Airport Terminal II, the agreement said.
The implementation of the project aims to improve the air transport for passengers and goods to and from the Indian Ocean archipelago of Zanzibar, providing safe and reliable airport for large aircrafts and large number of flights and increase the number of passengers from inside and outside of Tanzania.
Speaking at the agreements signing ceremony, Tanzanian Minister of Finance and Economic Affairs Mustapha Mkulo hailed China's assistance to his country, noting that the bilateral cooperation in sectors of development and technology between the two countries are highly appreciated.
The two projects would contribute to significantly to the Tanzanian Government's effort to improve communication technology in Tanzania, the national and social development and poverty reduction in the east African country, he said. |
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