Tanzania has had a breakthrough in its standard gauge railway (SGR) external financing and the government no longer has to dig into its pockets to complete the $7.6 billion project.
On Thursday, the government signed a facility agreement with Standard Chartered Bank for a $1.46 billion loan to finance the construction of the first and second phases of the project, covering a distance of approximately 550km from Dar es Salaam to Makutupora.
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