Korea inks fourth framework accord, set to disburse Sh 2.3 trillion

Tanzania has secured a soft loan amounting to $ 1 billion (about 2.3tri/- TZS) from the Republic of Korea, to finance various development projects. Speaking during the signing ceremony in Dar es Salaam yesterday, Permanent Secretary in the Ministry of Finance and Planning, Mr Emmanuel Tutuba said the loan from the Economic Development Cooperation Fund (EDCF) would cover some identified projects at various stages of preparation in the 2021-2025 period. He mentioned some of the projects to be executed under the Framework Arrangement (FA) as National Identification System Expansion Phase II, which will use 163.1bn/- and Improvement of National Land Data Infrastructure 151.5bn/-. The loan will also be channelled towards financing the construction of Binguni Hospital in Zanzibar, at the cost of 233bn/- and other projects in the sectors of Information and Communication Technology (ICT), Health, Energy and Infrastructure. On his part, the Ambassador of the Republic of Korea to Tanzania, Mr Kim Sun Pyo, said the Korean government is committed to continuing to support Tanzania’s development agenda through financing and implementing important infrastructure projects like Tanzanite Bridge and others