Standard Chartered Arranges USD 2.33 Billion Funding for Tanzania Railway Project

May 4: Standard Chartered Bank has arranged a USD 2.33 billion syndicated financing facility for Tanzania's Standard Gauge Railway (SGR) project.

Project Details

The funding will be used to develop two stretches of the planned 1,219 km railway line connecting the port city of Dar es Salaam with Mwanza, a key city located along Lake Victoria. The corridor is considered important for improving both domestic and regional transport efficiency.

Construction Partners

The construction work has been assigned to:

• Yapi Merkezi (Turkey-based)

• China Civil Engineering Construction Corporation

Financing Sources

The financing has been mobilised through a mix of export credit agencies, commercial banks and development finance institutions, reflecting strong international backing for the project.

Strategic Importance

The railway is expected to improve connectivity between Dar es Salaam port and key economic corridors in western Tanzania as well as neighbouring countries. It will offer a more reliable transport option for both passengers and cargo.

Broader Context

Tanzania's broader plan includes developing a modern railway network of at least 2,561 km, linking the country with landlocked neighbours such as Rwanda, Burundi, Uganda and the Democratic Republic of Congo. The SGR project is a key part of this long-term infrastructure push.