Development banks back East Africa railways

Multilateral financial institutions have signed a deal to provide $164m in loans to finance the overhaul of Rift Valley Railways Investment’s Kenya-Uganda railway network.

  • 05 Aug 2011

The railway operator’s investment plan will span five years and will use investments totalling $287m to refurbish the century-old rail track and update Rift Valley’s rolling stock.

The African Development Bank has agreed to lend $40m, while Germany’s KfW and the International Finance Corp will each provide $32m. The ...

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