India extends US$ 92 million Line of Credit to Tanzania

Seeking to enhance its ties with resource-rich Tanzania, India yesterday extended its full support to the country to meet its development needs and signed five agreements, including one for providing a Line of Credit of US$ 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 at a joint press interaction after his bilateral meeting with President Magufuli.

 

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

The two leaders agreed to work closely, bilaterally, regionally and globally to combat the twin threats of terrorism and climate change.

 

In a joint statement, the two leaders expressed their strong condemnation of terrorism in all its forms and manifestations and stated that there can be no justification for terrorism whatsoever. They expressed satisfaction on the holding of bilateral counter-terrorism consultations in early-2016.

 

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

 

Other agreements signed include a 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.

 

Modi said during his meeting with President Magufuli, they had 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.