Africa Banking Energy Finance Infrastructure Port Rail Tanzania

Credit Suisse to lend Tanzania US$200M for projects

Credit Suisse Bank is to lend Tanzania $200 million to implement energy and rail infrastructure projects, the finance ministry said.

The U.K. arm of the Swiss bank will lend the Dodoma-based government the facility in the 2018-19 financial year, Tanzania’s finance ministry said in an emailed statement.

“Some of the priority projects that the government is undertaking include the construction of the Standard Gauge Railway, reviving Air Tanzania by buying new aircraft, and electricity projects,” Finance Minister Philip Mpango said.

The government also plans to implement the Rufiji hydropower project, which will supply 2,100 megawatts on completion, he said. It is also expanding the Dar es Salaam and Tanga ports and constructing various road projects that will serve Tanzania and neighboring Rwanda and Burundi and promote trade.

Source: Bloomberg

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