Uganda to finalize China loan for new railway by year-end

The new so-called standard gauge railway (SGR) line will replace an existing old line to help to make shipments faster and cheaper. [Photo: Standard]

KAMPALA - Uganda said it expects to finalize a $2.2 billion loan deal with China’s Exim bank by the end of the year. to pay for part of a railway line to connect Kenya’s Mombasa seaport with Kampala.

Uganda has also reached an agreement with Kenya where the two countries have committed to work on the project simultaneously with the aim of completing it by 2022.