Follow CGSP on Social Media

Listen to the CGSP Podcast

China Exim Bank to Finance Controversial East African Oil Pipeline: Media Reports

by Eric Olander
A map showing the EACOP project from Hoima in the west of Uganda to Tanzania’s city of Tanga on the Indian Ocean coast.

The China Exim Bank will reportedly come to the rescue of the East African Crude Oil Pipeline after Standard Chartered Bank withdrew from the project that aims to transport oil from western Uganda to the coast of Tanzania.

Ugandan Energy Minister Ruth Nankabirwa confirmed that the Chinese policy bank, along with “several other Chinese banks”, will finance an unspecified amount of the $1.8 billion needed to build the 1,443-kilometer pipeline, according to a report in the Daily Monitor newspaper.

Lead the Conversation on China

Subscribe Today to Get Full Access to The China-Global South Project

Check Out Everything You'll Get With Your Subscription

The China-Global South Daily Brief delivered to your inbox at 6AM Washington time

Full access to exclusive news and analysis from editors based in the Global South

Transcripts of CGSP’s twice-weekly podcasts

Students and teachers with a valid .edu email address are eligible for a 50% discount off monthly or yearly subscriptions. Email us to receive a discount code.

You Might Like

Uganda to Become Africa’s Newest Oil Exporting Country With Inauguration of New Chinese-operated Drilling in Lake Albert

Ugandan President Yoweri Museveni’s long-held ambition to export oil via the controversial East Africa Crude Oil Pipeline (EACOP) will move closer to reality on Tuesday when he commissions the country’s first new drilling ...

No Excuses. China Exim Bank Rejects Uganda’s Appeal For Repayment Delay

Lead the Conversation on China Subscribe Today to Get Full Access to The China-Global South Project ...

East Africa’s New Year’s Resolution: Borrow More Money

Kenya, Tanzania, and Uganda are starting 2022 with an eye on borrowing hundreds of millions of dollars to fund new infrastructure development and to help close the finance gap created by the ongoing ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

Subscribe