Sammuel999
JF-Expert Member
- Jun 1, 2016
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China Eximbank will only provide funds if Kenya builds line
Hehehehe
geza and Band wagon mko wapi??
Unless Kenya build its Rail ndio Uganda Na Rwanda Wataweza pia They cant escape that unless they use another Type of Funding
Hehehe
Uganda, which wants to start building part of a multi-billion-dollar rail line to Kenya, must wait for its neighbor to decide on plans for its portion of the track before the project’s main funder makes money available, the country’s finance minister said.
Export-Import Bank of China will arrange financing for Uganda only when it’s sure that Kenya “is willing and able to extend its railway to the border, so that they don’t fund a white elephant,” Finance Minister Matia Kasaija said. Kenya has committed to the line, but wants to start building when it’s in a position to borrow more money, he said.
Eximbank will provide 85 percent of the $2.3 billion Uganda needs for the line, Kasingye Kyamugambi, the rail project’s coordinator in Uganda, said in February .
East African nations are trying to direct funds to infrastructure to help accelerate economic growth. The 273-kilometer (170-mile) standard-gauge line linking landlocked Uganda’s capital, Kampala, to Malaba on the Kenyan border will form part of a network that will eventually span 3,200 kilometers across the two nations, Rwanda, and possibly South Sudan.
China Eximbank in December agreed to lend Kenya $4.9 billion for the second leg of the new railway, linking the southern Kenyan town of Naivasha to Malaba. Trial runs on the first phase between the capital, Nairobi, and the port city of Mombasa start next month. The entire line in Kenya will cost $10.5 billion.
The World Bank estimates that China may FUND about 37 percent of Uganda’s investment program in the three years that end in June 2020. That’s around the time the country expects crude oil production to begin.
Hehehehe
geza and Band wagon mko wapi??
Unless Kenya build its Rail ndio Uganda Na Rwanda Wataweza pia They cant escape that unless they use another Type of Funding
Hehehe
Uganda, which wants to start building part of a multi-billion-dollar rail line to Kenya, must wait for its neighbor to decide on plans for its portion of the track before the project’s main funder makes money available, the country’s finance minister said.
Export-Import Bank of China will arrange financing for Uganda only when it’s sure that Kenya “is willing and able to extend its railway to the border, so that they don’t fund a white elephant,” Finance Minister Matia Kasaija said. Kenya has committed to the line, but wants to start building when it’s in a position to borrow more money, he said.
Eximbank will provide 85 percent of the $2.3 billion Uganda needs for the line, Kasingye Kyamugambi, the rail project’s coordinator in Uganda, said in February .
East African nations are trying to direct funds to infrastructure to help accelerate economic growth. The 273-kilometer (170-mile) standard-gauge line linking landlocked Uganda’s capital, Kampala, to Malaba on the Kenyan border will form part of a network that will eventually span 3,200 kilometers across the two nations, Rwanda, and possibly South Sudan.
China Eximbank in December agreed to lend Kenya $4.9 billion for the second leg of the new railway, linking the southern Kenyan town of Naivasha to Malaba. Trial runs on the first phase between the capital, Nairobi, and the port city of Mombasa start next month. The entire line in Kenya will cost $10.5 billion.
The World Bank estimates that China may FUND about 37 percent of Uganda’s investment program in the three years that end in June 2020. That’s around the time the country expects crude oil production to begin.