World Bank's IFC Unit to Lend $10 Million to Chinese-Tanzania Rail Venture

The World Bank’s International Finance Corporation will lend $10 million to a joint venture between China Railway Jianchang Engineering Co. and a Tanzanian non-governmental organization.

The money will be used to build a commercial complex in Dar Es Salaam, Tanzania, the IFC, a private investment arm of the World Bank, said in a statement. It said it will try to get other institutions to provide an additional $6.25 million for the project.

The Financial Times reported the news earlier.

To contact the reporter on this story: Aki Ito in Tokyo at aito16@bloomberg.net

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