Standard Chartered Said to Arrange $2.2 Billion Tanzania Rail Loan

Standard Chartered Plc has arranged a $2.2 billion loan with export credit agencies and development finance institutions for Tanzania’s landmark rail project, according to Turkish contractor Yapi Merkezi Insaat VE Sanayi AS.

The deal will be signed April 28 in the East African nation’s capital, Dodoma, and will finance the third and fourth legs of the 1,219-kilometer (757-mile) track, Yapi Merkezi Vice Chairman Erdem Arıoğlu told Bloomberg in an interview. The two phases run through Makutupora, Tabora and Isaka.