Uganda has appointed Citibank to mobilise financing for its planned €2.7 billion ($3.19 billion) Standard Gauge Railway (SGR), marking a significant step toward unlocking one of the country’s most ambitious infrastructure projects.
In a statement shared on X, the Ministry of Finance confirmed that Uganda is also in discussions with the World Bank to support the project, signaling renewed efforts to secure multilateral backing.
The announcement comes as a Ugandan delegation attends the IMF and World Bank Spring Meetings in Washington. During the meetings, officials held talks with Citibank representatives led by Richard Hodder, focusing on progress in mobilising the required financing for the SGR.
Uganda’s railway project has faced prolonged delays, particularly after earlier attempts to secure funding from Beijing failed to materialise. In 2024, the government reassigned the project to Turkish construction firm Yapi Merkezi, which is now overseeing its implementation.
While initial preparatory works have commenced using government funding, full-scale construction remains contingent on securing comprehensive financing.
The 272-kilometre rail line will connect Kampala to Malaba, linking Uganda to Kenya’s railway network and ultimately providing access to the Indian Ocean port of Mombasa.
Once completed, the SGR is expected to significantly enhance regional trade, reduce transport costs, and strengthen Uganda’s position as a logistics hub in East Africa.
