Tanzania, Afrexim Bank discuss construction of SGR, oil imports

WASHINGTON: AFRICAN Export-Import Bank-Afreximbank has said it is ready to continue helping Tanzania obtain funds for the construction of the Standard Gauge Railway (SGR) as well as investing in new mining sector projects and the construction of a large hospital project that will have world-class medical services (African Medical Center of Excellence (AMCE).

The promise was made in Washington D.C, in the United States by the Vice President of Afrexim Bank (Global Trade Bank), Haytham ElMaayergi, when he met and held talks with the Tanzanian Delegation led by the Minister of Finance, Ambassador Khamis Mussa Omar on the sidelines of the World Bank and International Monetary Fund-IMF Spring meetings.

He said that Tanzania is a strategic partner of the bank and that it is ready to collaborate with it to implement various projects that will be agreed upon by both parties that will be productive and stimulate economic growth and the lives of Tanzanians.

“We are ready to collaborate with the Central Bank of Tanzania in the project to purchase and increase the value of gold, continue to seek funding for the construction of the SGR Railway and we await the completion of the process of investing in a large world-class medical center in Tanzania” said ElMaayergi

For his part, Ambassador Khamis Mussa Omar, thanked Afreximbank for continuing to support Tanzania, not only in financing the modern SGR railway project, but also in supporting the overall budgetary activities of the Government, including its role as the ‘Mandated Lead Arranger’ in the budget financing transaction for the fiscal year 2024/25.

He said that as the Government continues to mobilize funds for the implementation of the sixth and seventh sections of the SGR through the African Development Bank (AfDB), it also expects Afreximbank to participate in the program due to the importance of the project to the country’s economy.

He requested Afreximbank to further open the window for public-private partnerships (PPP) to enable project developers and main contractors to participate fully.

In the health sector, he said that Tanzania is ready to host the Africa Medical Centre of Excellence (AMCE), which is expected to be a key pillar in strengthening health infrastructure in the country and the entire region.

In terms of fuel, Ambassador Omar commended Afreximbank for its partnership with the Tanzania Petroleum Development Corporation (TPDC) as well as its willingness to support the import of petroleum products for the period May to July 2026.

He said that the Government recognizes the importance of the program in ensuring energy security in the country.

The session was also attended by the Minister of Finance of the Revolutionary Government of Zanzibar, Dr Juma Malik Akil, the Permanent Secretary and Paymaster General of the Government, Dr Natu El-maamry Mwamba, the Permanent Secretary, Ministry of Finance and Planning, Zanzibar, Aboud Hassan Mwinyi, the Acting Deputy Permanent Secretary, Ministry of Finance, Rished Bade and other senior leaders of the Government and its Institutions.