Magu asking Zuma for help was the funniest thing ever😂😂. BRICS (an association of emerging economies, Brazil Russia, India, China and South Africa) said hell no to investing funds in electric rail in a country that has more than half of it’s population in the dark!
“I have asked President Jacob Zuma to help us secure a low interest loan from Brics to finance particularly the SGR project,” President Magufuli said.
However, Brics remains reluctant to finance the project.
President Magufuli had also requested the World Bank President Dr Jim Yong Kim to help in financing the project.
The World Bank claims that it is not viable. World Bank instead has issued $200 million to renovate the old railway line.
Tanzania struggles to finance SGR
Tanzania SGR Hangs in Balance as Gov’t Struggles with Financing
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