product · May 16, 2026
Uganda Plans First Sovereign Sukuk to Fund $3.16 Billion Railway Project
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Uganda Ministry of Finance announced plans on May 12, 2026 for its first sovereign sukuk. The issuance will cover 15 percent of the 2.7 billion euro Kampala-Malaba standard gauge railway project. Export credit agencies will provide 60 percent and development finance institutions 25 percent. Construction contract went to Yapi Merkezi in October 2024.
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