Browsing: Tanzania-Korea relations

• • Tanzania, Korea ink USD 2.5bn trade pact, cooperation MoU
  • Tanzania President Samia completes 6-day Korean visit
  • Tanzania earmarks five regions for the ‘Smart City’ project

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 …