DAR ES SALAAM, (Reuters) – Indian Prime Minister Narendra Modi said yesterday his government would consider giving Tanzania, where he’s visiting, a $500 million loan to finance water projects in the east African nation.
India and Tanzania signed several agreements, including a loan of $92 million for water projects in Tanzania’s semi-autonomous Zanzibar islands.
Modi said his government was ready to offer additional financing for other water projects in east Africa’s second-biggest economy.
“India is willing to consider an additional $500 million line of concessional credit,” Modi said at a joint news conference with Tanzanian president John Magufuli in Tanzania’s commercial capital, Dar es Salaam.
“President Magufuli and I agreed to deepen India-Tanzania ties in agriculture, food security, trade, natural gas and other vital sectors.”
