The World Bank has offered Tanzania a debt relief worth 4.951 trillion Tanzanian shillings (3. 961 billion U.S. dollars).

The debt relief, effective on July 1 this year, will be provided over the next 40 years, according to a government statement available here on Tuesday.

Tanzania now has an external debt amounting to 8.14 billion dollars at the end of April this year.

The east African country has been enjoying debt relief treatment from the Multilateral Debt Relief Initiative and the Heavily Indebted Poor Countries Initiative.

Source: Xinhua