Uganda appoints Citibank to mobilise funds for €2.7bn railway project
Uganda said on Thursday it had appointed Citibank to mobilise financing needed to fund the country's planned €2.7-billion ($3.19-billion) Standard Gauge Railway (SGR) project.
In a post on the X platform, the East African country's finance ministry said Uganda is "in talks with the World Bank to support the project."
Earlier this month the Washington-based global lender confirmed to Reuters it was considering "an array of potential financing options" for the project.
A Ugandan delegation in Washington for the IMF and World Bank Spring Meetings met officials from Citibank led by Richard Hodder, the managing director and global head export and agency finance "to discuss progress made in mobilising the required financing for the SGR project," the post said.
After a prolonged delay caused by unfruitful efforts to secure financing from Beijing, Uganda in 2024 handed the SGR project to Turkish construction firm Yapi Merkezi.
Initial preparatory works have begun with some financing from the government but full-scale construction has yet to begin, pending availability of funding.
The 272 km rail line will run from the capital Kampala to Malaba at the border with Kenya, connecting landlocked Uganda to its neighbour's rail network and onto the Indian Ocean seaport of Mombasa.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
