DAR ES SALAAM, May 20 (Xinhua) -- China has announced here a 146.47 billion Tanzanian shillings (64 million U.S. dollars) financial assistance for the implementation of development projects in Tanzania.

The governments of China and Tanzania on Saturday signed two agreements for the upgrading of the National Institute of Transport (NIT) to a university of transport and for conducting a feasibility study for the Standard Gauge Railway (SGR).

The agreements were signed by the Permanent Secretary in the Ministry of Finance Dotto James and the Chinese Ambassador to Tanzania Wang Ke at a ceremony held in the commercial capital Dar es Salaam.

Speaking after signing the agreements, James said: "I'm happy to note that the framework agreements we have just signed today is on economic and technical cooperation between our two governments."

He added that the country was proud that the bond between the two countries had continued to be strengthened over the years.

Wang said the financial assistance contributed by China was aid with no conditions attached.

She said after the feasibility study on the construction of the SGR China will come up with a plan on how to support its construction.