Afran : China gives Tanzania $180m in loans: minister
on 2010/1/17 17:21:47
Afran

20100116

DAR ES SALAAM (Reuters) - China gave Tanzania $180 million in concessional loans on Friday as part of its pledge to provide $10 billion in low-cost lending to Africa over the next three years, Tanzanian Finance Minister Mustafa Mkulo said on Saturday.

The agreement was unveiled during a visit to the Tanzanian commercial capital Dar es Salaam by Chinese Commerce Minister Chen Deming, who arrived on Thursday for a three-day tour of east Africa's second largest economy.

China made the $10 billion pledge -- double the amount offered in 2006 -- at a summit in Egypt in November as it aims to boost a relationship with the continent which goes back decades politically and is now booming economically.

Blossoming trade and business ties have attracted Western accusations that Beijing is solely interested in African resources and is ready to overlook poor governance.

Chinese commentators respond that envious Europeans still treat the continent like a colony.

"This loan is part of the fulfilment of promises made by China to provide $10 billion in concessional loans to Africa between 2010 and 2013," Mkulo told Reuters in an interview on Saturday.

Mkulo said the loans would fund various development projects in infrastructure and information, communication and technology.

He said Tanzania was also in talks with Beijing for additional loans in agriculture, railway infrastructure, transportation and for the upgrade and rehabilitation of Dar es Salaam's underperforming port.

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