Sunday, September 17, 2017

The Brazilian government has forgiven Tanzania a total of $ 203 million USD equivalent to Tanzanian Shillings 445 billion.

IMG_20170917_174341.pngThe debt was due to a loan issued for the construction of Morogoro-Dodoma Road in 1979 with Interest.

Ambassador to Tanzania, Emmanuel Nchimbi, said he thanked the Government of Brazil for supporting the efforts of President Magufuli to build a strong Tanzanian economy.



And Brazilian Interior Minister Guilheme Laux said they have officially opened the doors of financial and commercial co-operation that were closed by the Debt.

This step will enable Brazilian companies to be allowed to borrow in Brazilian Banks for implementing projects in Tanzania.

The Government of Tanzania is also officially allowed to initiate a discussion of new development projects
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