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China Eximbank pledges to loan $7.6 billion USD for the Tanzania Standard Gauge Railway Network (Linked to Record ID#67661)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Tanzania Ministry of Finance and Planning |
| Country | Tanzania |
| Start Date | Jul 20, 2016 |
| End Date | Feb 13, 2029 |
| Duration | 4,591 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 52354 |
Grant Description
China Eximbank pledges to loan $7.6 billion USD for the Tanzania Standard Gauge Railway Network On July 20, 2016, China Eximbank pledged to provide a concessional loan of $7.6 billion USD for the construction of the Standard Gauge Railway (SGR) line in Tanzania.
The Government of Tanzania planned to provide counterpart financing and had already allocated 1 trillion TZS (about $450 million USD) for the 2016/17 financial year.
China Railway Materials was originally going to serve as the contractor responsible for project implementation, but was later taken off the project due to allegations of corruption. After this company was taken off the job, China Eximbank also backed out of the deal.
The SGR was meant to unlock major trade opportunities between Tanzania and its landlocked neighbors of the Democratic Republic of Congo (DRC), Rwanda and Burundi. This project was to be carried out in multiple phases with multiple contractors.
China Eximbank allocated just $7.9 million USD for the Morogoro-Makutupora portion of this network (Record ID#67661) but of course this deal was suspended as well.
Sources & References
- Tanzania gives timelines for new SGR railway
- China will provide Tanzania with a $7.6 billion loan to build a railway
- Infrastructure Financing Trends in Africa – 2017
- Negotiating the technological capacity in Chinese engagements: Is the Tanzanian government in the driving seat?
- 中国进出口银行将为坦桑尼亚铁路提供76亿美元贷款 原文網址：https://kknews.cc/world/ynvojg.html Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Tanzania Ministry of Finance and Planning
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