{"id":32097,"date":"2026-04-16T09:35:00","date_gmt":"2026-04-16T07:35:00","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=32097"},"modified":"2026-04-16T09:35:00","modified_gmt":"2026-04-16T07:35:00","slug":"uganda-appoints-citibank-to-mobilise-funds-for-3-19-billion-railway-project","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/uganda-appoints-citibank-to-mobilise-funds-for-3-19-billion-railway-project\/","title":{"rendered":"Uganda appoints Citibank to mobilise funds for $3.19 billion railway project"},"content":{"rendered":"<p>Uganda said on Thursday it had appointed Citibank to mobilise financing needed to fund the country&#8217;s planned $3.19 billion Standard Gauge Railway (SGR) project.<\/p>\n<p>In a post, opens new tab on the X platform, the East African country&#8217;s Finance Ministry said Uganda is &#8220;in talks with the World Bank to support the project.&#8221;<\/p>\n<p>Earlier this month the United States, Washington DC, based global \u2060lender confirmed to\u00a0<em>Reuters\u00a0<\/em>it was considering &#8220;an array of potential financing options&#8221; for the project.<\/p>\n<p>A \u200bUgandan delegation in Washington for the International Monetary Fund and World Bank Spring Meetings met officials from Citibank led by Richard Hodder, the\u00a0Managing Director\u00a0and Global Head Export and Agency Finance\u00a0&#8220;to discuss progress made in mobilising the required \u200cfinancing \u2060for the SGR project,&#8221; the post said.<\/p>\n<p>After a prolonged delay caused by unfruitful efforts to secure financing from Beijing, Uganda in 2024 handed the SGR project to Turkish construction firm Yapi Merkezi.<\/p>\n<p>Initial \u2060preparatory works have begun with some financing from the government but full-scale construction has yet to begin, pending availability of funding.<\/p>\n<p>The \u2060272 kilometre rail line will run from the capital Kampala to Malaba at the border with Kenya, \u2060connecting landlocked Uganda to its neighbour\u2019s rail network and onto the Indian Ocean seaport of Mombasa.<\/p>\n<p>&#8211;Reuters&#8211;<\/p>\n","protected":false},"featured_media":32098,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-32097","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":"","news_description":"Uganda said it had appointed Citibank","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32097\/revisions"}],"predecessor-version":[{"id":32099,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/32097\/revisions\/32099"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/32098"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=32097"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=32097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}