Tanzania: Standard Chartered rail funding boost for China’s Belt and Road
- August 30, 2018
- - 4:12 pm
Summary The $1.46 billion funding by Standard Chartered bank of Tanzania’s standard gauge rail project not only raises Tanzania’s economic outlook but validates a pact for China’s Belt and Road Initiative. Analysis The Tanzanian government announced August 29 that Standard Chartered approved a $1.46 billion loan to finance the construction of the country’s standard gauge railway connecting the cities of Morogoro and Makutupora. The 426 kilometer-long section will follow rail construction works underway between Dar es Salaam and Morogoro, and will precede a final line ultimately extending to Rwanda. The project supports Tanzanian economic interests, but on a deeper level …
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