By Guardian Correspondent , The Guardian
EFFORTS to obtain funds for the construction of ‘lot six’ of the Standard Railway Gauge (SGR), a 441-km stretch from Tabora to Kigoma are being concluded after the China Export and Credit Insurance Corporation (Sinosure) has expressed willingness to support Tanzania
.An online entry says that the China Export & Credit Insurance Corporation, commonly known as Sinosure, is a major Chinese state owned enterprise under the administration of the Ministry of Finance of the People's Republic of China.
Finance minister Dr Mwigulu Nchemba made note of this development yesterday when he met and held talks with a delegation from Sinosure, with an assistant manager, Bi Xiaonan, leading the team.
The state agency is working on processes to obtain enough funds to facilitate the completion of ‘lot five’ of the SGR project from Isaka to Mwanza that covers 341 km, he said, expressing gratitude for the Chinese firm for striving to facilitate the successful completion of the SGR project.
Describing the meeting as a success in mapping out strategic financing of projects, including the SGR, he said Sinosure expressed its readiness to engage with seeking for funds for ‘lot six’ of the SGR project.
The government had assured Sinosure and the Chinese government of heightened cooperation in seeking to strengthen economic ties for the benefit of the two countries, while the team leader said the Sinosure expects to maintain the cooperation to ensure that strategic projects are implemented efficiently.
The SGR project is a key part of Tanzania’s strategy to improve its transportation infrastructure and enhance regional connectivity, consisting of a network of about 2,000km developed in six phases.
It will link Tanzania from the port of Dar es Salaam on the seashore to the lakeside port of Mwanza and other land links directed to neighboring countries of Rwanda, Burundi and the Democratic Republic of Congo (DRC).
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