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Browsing: Korea-Africa bilateral agreements on mineral resources
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Tanzania-Korea relations
Tanzania-Korea relations are growing, with the latter securing a $2.5 billion soft loan from the Economic Development Cooperation Fund (EDCF).
The loan comes on the heels of Tanzania’s President Samia Suluhu Hassan’s state visit to the Republic of Korea.
The Tanzania-Korea loan was subject to criticism surrounding its terms. Still, the government of Tanzania has refuted claims that the loan has a security guarantee clause that may have forced the government to ‘mortgage’ some of the country’s resources.
Chief Government Spokesman Mr. Mobhare Matinyi was forced to elaborate on the loan terms following the ongoing social media buzz about what the spokesperson described as ‘misinformation.’
“The government has not mortgaged anything or any property because this loan does not have any conditions that …
- The inaugural Korea-Africa Summit 2024 highlights the strategic importance of Africa’s rich resources and market potential for South Korea.
- Asian economic powerhouse seeks to firm up ties between Seoul and 48 African nations through industrial infrastructure, digital transformation, and sustainable investments.
- Summit is also building on previous successes and aspires to foster mutual growth while addressing climate change, food security, and health.
South Korea is hosting a key summit for the first time with Africa, a forum that has seen leaders from 48 countries across the continent converge in Seoul to discuss expansive economic ties and cooperation between the two regions. With a focus on industrial infrastructure and digital transformation, the Korea-Africa Summit aims to leverage Africa’s rich resources and untapped market potential to foster mutual growth and sustainable growth.
Authorities in South Korea have outlined the agenda: tapping into Africa’s vast mineral wealth and growing market, which now stands …