# OPEC Fund Targets Uganda Railway Loan Approval

> OPEC Fund aims for €150m Uganda railway loan approval by 30 November 2026.
- Title: OPEC Fund Targets Uganda Railway Loan Approval · The Rio Times
- Summary: 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…
- Keywords: opec fund, uganda railway, standard gauge railway, sg r, uganda, infrastructure, loan approval, finance, news, world, politics, OPEC
- Source: The Rio Times — https://riotimesonline.com/opec-fund-uganda-railway-loan-appraisal-2026
- Author: Amina Diarra
- Published: 2026-10-20T03:29:53+00:00
- Read time: 1 min
- Topics: opec fund, uganda railway, standard gauge railway, sg r, uganda, infrastructure, loan approval, finance, news, world, politics
## 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
## Key takeaway

OPEC Fund seeks board approval for €150 million loan to Uganda's Standard Gauge Railway by 30 November 2026.