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Uganda Oil Pipeline to Get Backing From Nine European Banks, Minister Says

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Dulue Mbachu

Dulue Mbachu, an experienced journalist, covers business and politics for Allen Dreyfus.
  • Nine European banks have agreed to provide additional financing for Uganda’s East African Crude Oil Pipeline
  • The $5 billion project aims to transport crude oil from Uganda to Tanzania’s port of Tanga

Uganda announced that nine European banks have agreed to provide additional financing for the East African Crude Oil Pipeline (EACOP), a major infrastructure project intended to export the country’s crude oil through Tanzania.

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