Tanzania Government Ordered to Pay Standard Chartered-Hong Kong $185.4 Million

Dar es Salaam — The controversies regarding the power deal with Independent Power Tanzania Ltd (IPTL) has resurfaced after an international tribunal ordered the government to pay $185.4 million as compensation to Standard Chartered Bank of Hong Kong for breach of agreement.

The bank submitted a dispute to the International Centre for Settlement of Investment Disputes (ICSID) in 2015 against the government of Tanzania.

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