Home / Africa/International / Rwanda seeks $1.3b to finance standard gauge railway linking Tanzania

Rwanda seeks $1.3b to finance standard gauge railway linking Tanzania

Rwanda is looking for $1.3 billion to fund the construction of the proposed Isaka-Kigali standard gauge railway that links Rwanda and Tanzania, a senior Rwandan official said Tuesday.

The figure is higher than $1.2 billion revealed during the launch of the 400km railway line on January 20, 2018 in Dar es Salaam, commercial capital of Tanzania.

“The study for Isaka-Kigali SGR is completed,” said Jean de Dieu Uwihanganye, Minister of State in charge of Transport, while speaking at a local radio station talk show.

“Rwanda is looking for a staggering around $1.3 billion to finance its portion with the aim of reducing logistics costs, boosting trade and easing the movement of people between Tanzania and Rwanda.”

Investing in transport projects is among the Rwandan government’s top priorities as a way to attract investment in productive sectors, improve business environment and increase jobs opportunities, he said. Initial studies had shown that the project that will connect landlocked Rwanda to the Dar es Salaam port is estimated to cost $2.5 billion.

Source: GNA

Check Also

Ghana is safest country in West Africa – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has assured Africans in the Diaspora that Ghana remained the …