China writes-off some of Tanzania’s loan, restoring the country as Belt and Road Initiative partner

BEIJING - China has written -off f some of Tanzania’s loan obligations and also signed new infrastructure deals restoring Tanzania as a key Belt and Road Initiative partner.

This comes following a State visit of President Samia Suluhu Hassan to China that ended with goodies.

According to a press statement from Ikulu, the two leaders on Thursday witnessed the signing of 15 agreements in Beijing, one of them being a $13.7 million grant to Tanzania as part of a new Economic and Technical Cooperation pact. The deal will mean the grant value is chalked off Tanzania's debt to China.

Previously China had a falling out with President Samia's predecessor, the late Dr. John Magufuli over loan conditions for the proposed Bagamoyo port project and President Xi Jinping used President Samia’s visit to restore the relations.

The two countries signed protocols to pave the way for increased exports of avocado and wild aquatic products to China under veterinary and sanitary requirements, and a draft soft loan agreement worth $56.72 million to support the Zanzibar International Airport Terminal II construction project.

China's Ministry of Foreign Affairs on Thursday said the two leaders agreed on a new ‘’Comprehensive Strategic Co-operative Partnership’’ to further develop bilateral relations "across the board." Kenya is the only other country in the EAC bloc that enjoys this status with China. Other agreements include further expansion of two-way trade volumes between the two countries, with China pledging to start providing "duty-free treatment of 98 percent tariff lines goods exported from Tanzania to China" and "actively explore the possibility of providing market access to more Tanzanian products."

GAROWE ONLINE