Japanese ODA Loan to the United Republic of Tanzania

Japanese ODA Loan to the United Republic of Tanzania
March 3, 2009
The Government of Japan has decided to provide a Japanese ODA loan of up to two billion yen to the Government of the United Republic of Tanzania as the "Sixth Poverty Reduction Support Credit." Notes to this effect were exchanged in Dar es Salaam on March 3 (Tue) between Mr. Hiroshi Nakagawa, Ambassador of Japan to Tanzania, and Mr. Ramadhani M. Khijjah, Permanent Secretary, Ministry of Finance and Economic Affairs.
Outline of the ProjectThis loan financially supports different reforms which the Government of Tanzania is promoting based on the "National Strategy for Growth and Reduction of Poverty (MKUKUTA)," in cooperation with the World Bank's "Sixth Poverty Reduction Support Credit."
Significance of the ProjectBy this project, effective policies will be carried out for the priorities in the MKUKUTA, which has economic growth and reduction of poverty as two pillars of its aims. This is also expected to lead to the construction of a system on the Tanzanian side to take quick measures for various issues concerning poor people, and to the promotion of the reduction of poverty.
Terms and conditions of the loan(1) Interest rate: 0.01% per annum(2) Repayment period: 40 years (including a ten-year grace period)
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