Standard Chartered arranges USD2.33 billion syndicated financing for landmark SGR railway project in Tanzania

28 April, London, UK – Standard Chartered has successfully arranged a syndicated financing exceeding USD2.33 billion to support a landmark railway development project in East Africa. The proceeds from the financing will be used by Yapi Merkezi for the construction of Lot 3 and Lot 4 (approximately 430 kilometres) of the Standard Gauge Railway (“SGR”) in Tanzania, connecting Makutupora to Isaka. SGR Lot 5, connecting Isaka to Mwanza (approximately 249 kilometres) is being delivered by the China Civil Engineering Construction Corporation. The SGR Railway project (Lots 1 to 5) connecting Dar Es Salaam to Mwanza is one of the largest infrastructure initiatives in the country’s history.

The financing for SGR Lots 3 and 4 comprises of USD1.32 billion Export Credit Agency (ECA) financing signed in 2025 and 2026, and USD462 million of long-term financing from commercial banks and Development Finance Institutions, signed in 2023. Standard Chartered acted as Sole Global Coordinator, Bookrunner, Mandated Lead Arranger, Facility Agent and Lender for the Ministry of Finance of the United Republic of Tanzania. The ECA facilities are comprised of support from EKN and SEK (of Sweden), KUKE (of Poland) and SACE (of Italy) as the fronting ECAs with reinsurance from two more ECAs.

The financing for SGR Lot 5 comprises of a USD559 million Sinosure (the Export Credit Agency of China) Covered Facility which was drawn in 2025. Standard Chartered acted as Sole Global Coordinator, Bookrunner, Mandated Lead Arranger, Facility Agent and Lender for the Ministry of Finance of the United Republic of Tanzania.

This transaction highlights the strong collaboration and alignment across multiple ECAs in supporting strategically important infrastructure projects that deliver tangible benefits for the economy and local communities.

The construction and modernisation of the SGR will connect the port of Dar es Salaam to key growth corridors in Western Tanzania and neighbouring states, providing a reliable mode of transportation for people and cargo. The SGR will spur the economic development of the interior areas of Tanzania and provide employment opportunities to the local population. The Government of Tanzania is supporting the development of the SGR through the Tanzania Rail Corporation.

This financing reinforces Standard Chartered’s commitment in supporting the Government of Tanzania to achieve its growth aspirations, building upon the USD1.46 billion ECA led financing arranged by Standard Chartered for SGR Lots 1 and 2 which was signed in 2020.

Ciro Aquino, Head of Task Force Africa, SACE, said: “SACE is pleased to support Lots 3 and 4 of the Standard Gauge Railway (SGR), following its support for Lots 1 and 2 of the same project in Tanzania. This achievement reflects SACE’s strong commitment to strengthen and promote the Italian supply chain, positioning Italian companies as key partners in Africa’s connectivity and economic growth, the core objectives of the Mattei Plan.”

Ake Norlander, Director-General, EKN, commented: “EKN was part of SGR Lots 1 and 2, a project that already provides a safer and more efficient alternative to road transport, and we are now also part of Lots 3 and 4. We are proud at EKN to facilitate Swedish exports that contribute to this important development.”

Janusz Władyczak, CEO of KUKE, remarked: “KUKE was highly committed to participating in this strategic project in Tanzania. This investment demonstrates the critical importance of international cooperation and leveraging the potential of financial institutions from various countries to deliver a meaningful, large-scale positive impact on people’s lives in Africa.”

Herman Kasekende, CEO & Head of Coverage at Standard Chartered, Tanzania stated: “We are committed to helping finance the delivery of large-scale infrastructure to support sustainable growth in Africa, and we are excited for this railway project to position Tanzania as a premier logistics hub, boosting regional trade and job creation. At Standard Chartered, together with our partners, we are proud to use our unique network and capabilities to support global investment opportunities in Tanzania.”

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For further information please contact:

Denada Muka
Communications, Europe
Standard Chartered Bank
Tel: +44 7884476951
Email: Denada.Muka@sc.com

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