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South Korea to lend about $3m to Tanzania, Ethiopia
South Korea will lend 2.3 billion euros to Tanzania and 921 million euros to Ethiopia, the African countries announced today on the sidelines of the South Korea-Africa summit, which is taking place this week in Seoul.
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Mundo Coreia do Sul-África
"Tanzania and the Republic of Korea have signed an agreement that will see Tanzania access $2.5 billion (Sh2.3 trillion) in concessional loans from the Economic Development Cooperation Fund over the next five years," Tanzanian presidential spokesperson Zuhura Yunus said in a statement on Sunday.
Tanzanian President Samia Suluhu Hassan and her South Korean counterpart Yoon Suk-yeol witnessed the signing of the deal in the Asian nation's capital, Seoul, alongside other agreements that "seek to boost cooperation in the blue economy and critical minerals sectors".
Tanzania and South Korea also agreed to start negotiations on an Economic Partnership Agreement that would enhance their cooperation in areas such as trade, investment, transportation and industry.
Separately, the office of Ethiopian Prime Minister Abiy Ahmed announced on Sunday via the social media platform X that the Ethiopian leader and the South Korean president "held bilateral talks and signed a $1 billion financing agreement" for the next four years.
The funds will be used for projects in infrastructure, science and technology capacity building, health and urban development, Finance Minister Ahmed Shide told Ethiopian state media.
Abiy and Hassan are in Seoul for the first South Korea-Africa summit, which is taking place from Tuesday to Wednesday and is being attended by some 30 African heads of state and government, including several from Portuguese-speaking countries.
Read Also: South Korea announces suspension of 2018 military agreement (in Portuguese)
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