Chinese, African lenders to cover $1.8b Eacop funding shortfall
Students in Kampala, Uganda hold placards as they march to the EU mission offices to deliver a petition against the EU parliament resolution asking its members not to support the East Africa Oil Pipeline on September 29, 2022. PHOTO | BADRU KATUMBA | AFP
Sponsors of the East African Crude Oil Pipeline (Eacop) are looking for only $1.8 billion, which is expected to come from several Chinese lenders and two African banks, top officials of Uganda’s Ministry of Energy said on Friday.
“We are looking for $1.8 billion for the remainder on debt financing,” said Ugandan Energy Minister Ruth Nankabirwa.
