South Korea to Open Energy Center in Tanzania in 2017
The Government of South Korea plans
to open a center for renewable energy technology in Arusha, Tanzania in 2017
. According to local media, the
announcement was made by Juliana Pallangyo, Deputy Permanent Secretary in
Tanzania’s Ministry of Energy and Minerals in Dar es Salaam on December 2nd,
2016.
The center, aimed at energy development, will
be situated at the Nelson Mandela African Institute of Science and Technology
in Arusha.
In November 2016, Tanzania secured
USD50m in concessional loans from the Government of South Korea the
construction of power transmissions grids, which will be jointly developed with
the African Development Bank (AfDB).
The funds will be provided through the Korea
Exim Bank’s Economic Cooperation Development Fund (EDCF), established by the
Korean Government in 1987 to assist developing countries through the provision
of long-term, low-interest credit. “More recently, there is an increasing
demand for infrastructure development in sub-Saharan African countries thanks
to the end of civil wars and stable governance.
It is also expected that the
middle-income bracket will gradually grow larger. These factors combined are
giving reason for Korean companies to look to Africa as a new land of
opportunities,” Korea Exim Bank notes.
Moreover, the South Korean Embassy
in Tanzania indicates that Tanzania has been selected as one of Korea’s
priority partner countries for Official Development Assistance (ODA) starting
2016 “and as a result, the Embassy looks forward to enhanced mutual cooperation
with Tanzania through tailored assistance.”
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