Tanzania seeks $10bn from India

Tanzania seeks $10bn from India

DAR ES SALAAM. — Authorities in Tanzania are seeking $10 billion from various Indian financiers to meet its development goals, including the putting up of infrastructures, said a report released on Tuesday.

The report released at the 11th Confederation of Indian Industry (CII) — Export Import Bank of India (Exim Bank) Conclave on India — Africa Project Partnership in New Delhi, said Tanzania, East Africa’s second largest economy, was seeking the funds for implementation of 22 development projects.

The report said the money was sought from Exim Bank of India, the government of India’s other own sources as well as from investors in the Asian nation through their CII.

“This is done in the hope that certain projects can be implemented and managed under the public-private partnership arrangement,” said the report.

A document released jointly by the Exim Bank of India and CII and the Indian government showed that Tanzania’s National Housing Corporation (NHC) required the highest amount of funding from India — $6,2 billion in total.

The Tanzania Ports of Authority (TPA) came second when it sought over $596 million for financing various projects from India. — Xinhua

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