{"id":37,"date":"2020-02-24T04:55:26","date_gmt":"2020-02-24T04:55:26","guid":{"rendered":"http:\/\/infrastructurebrief.com\/?p=37"},"modified":"2023-12-18T19:29:54","modified_gmt":"2023-12-18T19:29:54","slug":"tanzania-secures-1-5-billion-financing-for-sgr-project","status":"publish","type":"post","link":"https:\/\/infrastructurebrief.com\/tanzania-secures-1-5-billion-financing-for-sgr-project\/","title":{"rendered":"Tanzania secures $1.5 billion financing for SGR project"},"content":{"rendered":"\r\n<p>Tanzania has secured USD 1.5 billion in financing from Standard Chartered Bank Tanzania to build a railway from Dar es Salaam to Matukopara.<\/p>\r\n\r\n\r\n\r\n<p>The Tanzanian Finance and Planning Ministry and Standard Chartered Bank Tanzania said that the loan, which was coordinated by the bank, was the largest ever raised by the ministry. The main funders were the Export Credit Agencies of Denmark and Sweden.<\/p>\r\n\r\n\r\n\r\n<p>Philip Mpango, Tanzania\u2019s finance minister, said the project financing will increase employment in Tanzania, and enable communities to thrive as they gain access to social services.<\/p>\r\n\r\n\r\n\r\n<p>\u201cI would like to thank the governments of Sweden and Denmark. These two nations have shown us their true friendship not only in words but also in action. Please convey our country\u2019s sincere appreciation to the Export Credit Agencies and lenders in your countries,\u201d he said.<\/p>\r\n\r\n\r\n\r\n<p>Other contributors to the loan were the&nbsp;<a target=\"_blank\" href=\"https:\/\/www.dbsa.org\/\" rel=\"noreferrer noopener\">Development Bank of Southern Africa<\/a>, the&nbsp;<a target=\"_blank\" href=\"https:\/\/www.tdbgroup.org\/\" rel=\"noreferrer noopener\">Trade and Development Bank<\/a>&nbsp;and the&nbsp;<a target=\"_blank\" href=\"https:\/\/www.afreximbank.com\/\" rel=\"noreferrer noopener\">African Export-Import Bank<\/a>.<\/p>\r\n\r\n\r\n\r\n<p>The rail link is part of a USD 14.2 billion plan to build around 2,500km of standard gauge rail lines in the country over the next five years. The rail will reduce road congestion and lower freight costs by 40%. Each freight train can transport up to 10,000 tonnes, equal to 500 lorry-loads. It will also connect Tanzania to Burundi, Rwanda and The Democratic Republic of Congo.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Tanzania has secured USD 1.5 billion in financing from Standard Chartered Bank Tanzania to build a railway from Dar es Salaam to Matukopara. The Tanzanian Finance and Planning Ministry and Standard Chartered Bank Tanzania said that the loan, which was coordinated by the bank, was the largest ever raised by the ministry. The main funders [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":200,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[2,21,16],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tanzania secures $1.5 billion financing for SGR project - Infrastructure Brief<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infrastructurebrief.com\/tanzania-secures-1-5-billion-financing-for-sgr-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tanzania secures $1.5 billion financing for SGR project - Infrastructure Brief\" \/>\n<meta property=\"og:description\" content=\"Tanzania has secured USD 1.5 billion in financing from Standard Chartered Bank Tanzania to build a railway from Dar es Salaam to Matukopara. The Tanzanian Finance and Planning Ministry and Standard Chartered Bank Tanzania said that the loan, which was coordinated by the bank, was the largest ever raised by the ministry. 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