The African Development Bank has signed a coordination letter with Deutsche Bank and Société Générale to establish a syndication strategy to mobilise up to $1.2 billion for Tanzania's standard gauge railway (SGR) project.

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African Development Bank leads $1.2bn loan for Tanzania rail project The $2.3 billion project will connect port of Dar es Salaam on the Indian Ocean to the port of Mwanza on Lake Victoria.

The $2.3 billion project will connect port of Dar es Salaam on the Indian Ocean to the port of Mwanza on Lake Victoria. African Development Bank leads $1.2bn loan for Tanzania rail project