Uganda negotiates debt financing for 85% of planned $3 billion railway project

Uganda is in talks with development finance institutions and credit export agencies to finance 85% of a planned railway project, a senior official said on Wednesday. Uganda is in talks with development finance institutions and credit export agencies to finance 85% of a planned railway project, a senior official said on Wednesday. Türkiye's Yapi Merkezi won the contract to build the 2.7 billion euros ($3.15 billion) railway in October last year and preliminary works have begun. Some of the potential financiers include the OPEC Fund for International Development, Africa Development Bank and Islamic Development Bank, Perez Wamburu, head of the railway construction project, told Reuters. Wamburu said the debt financing talks were in advanced stages and expected to be completed soon. Preliminary work