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India considers loan to Tanzania for water projects

Xinhua, July 11, 2016 Adjust font size:

Indian Prime Minister Narendra Modi said on Sunday his country was considering an additional 500 million U.S. dollars concessional credit to Tanzania for water projects.

"India is willing to consider an additional $500 million line of concessional credit," Modi told a joint press conference with his host, Tanzanian President John Magufuli.

Speaking on his second day official visit to the east African nation, Modi said the loan will finance water projects in the country.

At the same time, India and Tanzania signed several agreements, including a loan of 92 million dollars for water projects in Zanzibar islands, and Modi said his government was ready to offer additional financing for other water projects in the country.

Tanzanian President's office said in March the country expected to receive 380 million dollars in loans from India to finance two major water projects in Dar es Salaam and elsewhere in the country.

"President Magufuli and I agreed to deepen India-Tanzania ties in agriculture, food security, trade, natural gas and other vital sectors," said Modi after bilateral talks with President Magufuli at State House in the commercial capital Dar es Salaam.

Modi, who arrived in Tanzania late on Saturday from South Africa as part of his Africa tour, was also due to visit Kenya on Sunday.

Modi promised support to Tanzania to other development projects in health, agriculture and ICT.

The two leaders witnessed the signing of five agreements, including two on water supply and water resource management. Endit