In an interview with The New Times, Dr
"There are several projects under discussion like the railway line and oil pipeline. We are looking at these projects with interest, we want to first establish the final specifications in terms of financing (before committing)," said Jin-Yong, who is also the executive vice president of the institution.
Jin-Yong was in the country, last week, to, among others, open the trading of the corporation's bond on the
He said it was still early to estimate the actual amount that the
A subsidiary of the
Infrastructure for mineral exports:
Finance and Economic Planning minister Claver Gatete said last week that regional countries like
"We don't expect any roadblock or any trade barrier if the railway line is implemented, it will ease the movement of goods and reduce the cost of doing business among the partner states. We are optimistic about the projects, that's why IFC is here to work with us to achieve these projects," Amb. Gatete said.
The standard gauge railway that will connect
Finance ministers from
The oil pipeline will transport crude and other petroleum products from Eldoret,
"Meeting the implementation deadline remains a challenge. We are talking about multi-billion dollar projects. This is a lot of money anywhere and we need to be sure that we finance these projects at a cost that is viable," he said.
Speaking to the The New Times,
"We should not be afraid, that's why we are doing it as a region, to pool the funds which will make it easier than doing it as a single country... what we need is to ensure that if we borrow funds, we should be able to use it properly so that the debt is paid off," he said.
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