Uganda: China Bank Guarantees Karuma Dam Payment

Kampala — Chinese government owned Exim Bank, the main financiers of the 600MW Karuma Dam project has finally signed the much awaited advance payment guarantee for the funding of the project.

According to a document titled 'Advance payment Guarantee No. BKD2014LG00120' issued on June 10, 2014, and addressed to Ministry of Energy and Mineral Development and signed by Zhang Dajin on behalf of Exim Bank Head office, the bank agrees to cover Sinohydro Corporation, Karuma Dam contractors with a guarantee.

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