From The Rio Times · Amina Diarra · · 1m 10s
OPEC Fund Targets Uganda Railway Loan Approval
OPEC Fund aims for €150m Uganda railway loan approval by 30 November 2026.
In brief
OPEC Fund aims for €150m Uganda railway loan approval by 30 November 2026. OPEC Fund seeks board approval for €150 million loan to Uganda's Standard Gauge Railway by 30 November 2026. Originally reported by The Rio Times.
OPEC Fund Appraisal Mission
OPEC Fund for International Development sent team led by Senior Country Manager Kemi Afun-Ogidan to appraise Uganda's Standard Gauge Railway loan.
“The fund says it is targeting board approval by 30 november”
Loan Amount and Timeline
OPEC Fund targets €150 million loan approval by 30 November 2026 for Uganda's Standard Gauge Railway project.
“The fund targets board approval by 30 november 2026”
Project Financing Plan
Uganda's railway costs €2.7 billion with export-credit agencies covering 60%, development banks 25%, and government 15%.
“The malaba to kampala line is estimated at 2.7 billion euros”
Project Financing Details
Islamic Development Bank approved €650 million for 553-metre Jinja Nile Bridge and 2.12-kilometre Mbuya to Kampala tunnel.
“The islamic development bank approved 650 million euros for the project in june 2026”
Construction Timeline
Main construction starts in January 2027 with 48-month build period for Uganda's Standard Gauge Railway.
“The main construction period is planned to last 48 months from commencement”
Early Works Status
Early works valued at €75 million nearing completion with land compensation and financing still outstanding.
“Early works under a limited notice to proceed valued at 75 million euros are reported to be nearing completion”
Official Position
Kemi Afun-Ogidan says approval would be OPEC Fund's largest single financing commitment to Uganda since 1976.
“Kemi Afun-Ogidan said at the entry meeting that approval would make this its largest single financing commitment to uganda since it began operating there in 1976”
The short version
OPEC Fund seeks board approval for €150 million loan to Uganda's Standard Gauge Railway by 30 November 2026.
