Tanzania has said it will borrow $2.5 billion over the next five years from South Korea through concessional loans, alongside two accords on the use of ocean resources and minerals used in clean energy technologies.

Tanzania President Samia Suluhu Hassan signed the agreements with Korea's President Yoon Suk Yeol during a trip to Seoul, Hassan's spokesperson Zuhura Yunus said in a statement on Sunday.

The countries signed a memorandum of understanding on critical minerals such as nickel, lithium and graphite, which will allow them to work together on geological surveys and mining investment, Yunus said.

Hassan also sought cooperation in specific sectors including the sustainable use of ocean resources, the development of natural gas deposits, creative industries and for Tanzania to supply labour to South Korea, Yunus said.

(Reporting by Nuzulack Dausen; Editing by Hereward Holland and Mrigank Dhaniwala)