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Standard Chartered arranges USD 2.33 billion funding for Tanzania railway project

#International News#Infrastructure#Tanzania
Last Updated : 4th May, 2026
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Synopsis

Standard Chartered Bank has arranged a USD 2.33 billion syndicated financing facility for Tanzania’s Standard Gauge Railway project. The funding will support the development of two sections of a 1,219 km rail corridor connecting Dar es Salaam to Mwanza. The project is being executed by Turkey’s Yapi Merkezi and China Civil Engineering Construction Corporation, with financing from export credit agencies, commercial banks and development finance institutions. The railway is expected to improve cargo and passenger movement while strengthening regional connectivity with neighbouring landlocked countries.

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Standard Chartered Bank has arranged a USD 2.33 billion syndicated financing facility for Tanzania’s Standard Gauge Railway (SGR) project, as confirmed by the bank in a recent update.


The funding will be used to develop two stretches of the planned 1,219 km railway line connecting the port city of Dar es Salaam with Mwanza, a key city located along Lake Victoria. This corridor is considered important for improving both domestic and regional transport efficiency.

The construction work has been assigned to Turkey-based Yapi Merkezi and China Civil Engineering Construction Corporation. The financing has been mobilised through a mix of export credit agencies, commercial banks and development finance institutions, reflecting strong international backing for the project.

The bank stated that the railway’s construction and modernisation is expected to improve connectivity between Dar es Salaam port and key economic corridors in western Tanzania as well as neighbouring countries. It added that the project will offer a more reliable transport option for both passengers and cargo, while supporting economic activity in inland regions.

Tanzania has been actively working to expand its rail infrastructure over the past few years. The broader plan includes developing a modern railway network of at least 2,561 km, aimed at linking the country with landlocked neighbours such as Rwanda, Burundi, Uganda and the Democratic Republic of Congo. The SGR project is a key part of this long-term infrastructure push to strengthen trade routes and reduce logistics costs.

Source Reuters
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