Tanzania secures 1.277bn US dollars for the SGR as donors pledge to continue backing it

DAR ES SALAAM: TANZANIA has strengthened international financing ties after securing about 1.277bn  US dollars in additional support for the Standard Gauge Railway (SGR), as development partners pledged continued backing for the country’s flagship infrastructure project.

This was reached during a discussion between Tanzania’s Minister for Finance, Khamis Mussa Omar with envoys and export credit agencies shortly after witnessing the signing of a financing agreement for the third and fourth lots of the SGR line from Makutupora in Singida to Isaka.

The meeting brought together Italy’s Ambassador to Tanzania, Giuseppe Coppola, the Swedish Ambassador to Tanzania, Charlotta Ozaki Macias and the Polish Ambassador to Tanzania, Sergiusz Wolski, alongside representatives from export credit agencies including Sweden’s EKN Sweden, Italy’s SACE and Poland’s KUKE.

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According to information from the Ministry of Finance, the financing package, coordinated under Standard Chartered Bank, is expected to accelerate the construction of the modern railway network, a key component of Tanzania’s infrastructure transformation agenda.

During the discussion, Minister Omar expressed appreciation to the partners for their continued support, saying the collaboration is critical in advancing the country’s long-term development vision, including the Tanzania Development Vision 2050.

In addition, the minister called for even stronger economic and financial cooperation, particularly in strategic projects that stimulate growth and expand transport and trade corridors.

The diplomats and agency representatives praised Tanzania’s ongoing economic and social reforms, noting that the SGR project represents a transformative investment expected to boost trade, tourism and regional connectivity along its route.

They reaffirmed their commitment to working with the government to ensure successful implementation of the project, describing it as a major catalyst for economic development in the region.