Chinese bank gives a soft loan to Tanzania to finance the construction of railway
China’s Export-Import Bank (Exim) has agreed to give Tanzania 7.6 billion dollar soft loan for the construction of a railway line that will enable Tanzania to link up with its neighbouring countries in Eastern and Central Africa including Burundi, Rwanda and Democratic Republic of Congo (DRC).
The construction of the first phase of the 2,190 kilometres of Railway that will cover Tanzania’s city Dar es Salaam to its port city of Mwanza on the southern shores of Lake Victoria in north-western Tanzania reports the Daily News.
President John Magufuli secured the loan a meeting with the Exim Bank’s president Mr Liu Liang at the State Lodge in Dodoma.The bank agreed to work with the East African nation to exchange experience and skills on the construction of the railway and its management.
The railway project includes the standard gauge central line connecting the port of Dar es Salaam to Rwandan and Burundi, with additional lines to connect Dar es Salaam to the coal, iron ore and soda ash mining areas in the south and northern parts of Tanzania according to the Transport Minister Samual Sitta
