WASHINGTON, April 16 – Uganda has appointed Citibank to mobilize financing for its planned €2.7 billion ($3.19 billion) Standard Gauge Railway project, as the government seeks to advance the long-delayed infrastructure scheme.

The finance ministry said in a post on the X Platform that discussions are also underway with the World Bank, which is considering a range of potential funding options for the project.

Officials met Citibank representatives led by Richard Hodder during the IMF and World Bank Spring Meetings in Washington to review progress on securing the required financing.

The railway project, which has faced delays after earlier efforts to secure funding from China stalled, was reassigned in 2024 to Turkish contractor Yapi Merkezi. While preliminary works have begun with government support, full construction remains contingent on funding.