Tanzania signs $1.2B facility for new section of SGR
Originally published by KBC Digital — Read the original article →
Tanzania has secured $1.2 billion (Ksh155b) commercial financing facility for the construction of Lot 6 Standard Gauge Railway from Tabora to Kigoma.
The financing was secured though the African Development Bank (AfDB) which provided $800 million under the Partial Credit Guarantee (PCG), and the balance being raised from other financiers.
“By combining development finance, commercial lending and insurance capacity, we have successfully unlocked the scale of financing required to deliver this type of transformational regional infrastructure. It reflects the vision behind the New African Financial Architecture for Development (NAFAD), focusing on private capital mobilization and partnerships in risk sharing to mobilise resources at scale,” said Max Ndiaye, Senior Director African Development Bank Group.