Japanese ODA Loan to the United Republic of Tanzania

December 3, 2009
Japanese

The Government of Japan has decided to provide a Japanese ODA loan of up to 2 billion yen in total to the Government of the United Republic of Tanzania as part of the Seventh Poverty Reduction Support Credit (PRSC7). Notes to this effect were exchanged in Dar es Salaam on December 3 (Thu) (local time: same day) between Mr. Hiroshi Nakagawa, Japanese Ambassador to Tanzania, and H.E. Mr. Ramadhani M. Khijjah, Permanent Secretary, Ministry of Finance and Economic Affairs of the United Republic of Tanzania.

Outline of the Project

This ODA loan is being extended in cooperation with the Seventh Poverty Reduction Support Credit (PRSC8) and provides financial support for the various reform efforts by the Government of Tanzania based on the National Strategy for Growth and Reduction of Poverty (MKUKUTA).

Significance of the Project

It is expected that this ODA loan, by implementing effective policy measures in line with the priority issues of MKUKUTA, which focuses on the two concepts of economic growth and the reduction of poverty, will lead to the establishment of a system in Tanzania which allows for prompt responses to a broad range of issues related to the poor, and promote the reduction of poverty.

Terms and conditions of the Loan

(1) Interest rate: 0.01% per annum

(2) Repayment period: 40 years (including a 10-year grace period)

(END)

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