Chinese lenders are open and willing to discuss financing for the East African Crude Oil Pipeline Project (EACOP), the Chinese Ambassador to Uganda, H.E. Zhang Lizhong, has told Uganda’s President Yoweri Kaguta Museveni. The Chinese envoy to Uganda, together with Ambassador Xue Bing, the Special Envoy for the Horn of Africa Affairs of the Chinese Foreign Ministry were meeting Mr. Museveni on April 4th, 2024, at his Kisozi Farm to convey a special message from the President of the People’s Republic of China, His Excellency Xi Jinping. According to a statement released by Uganda’s Statehouse, H.E Xi Jinping in a…
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Stanbic Bank Uganda, Uganda’s largest bank and a subsidiary of the Standard Bank Group, Africa’s largest banking group has said that it is still doing its own due diligence on financing of the East African Crude Oil Pipeline (EACOP). However, the bank added that it is as committed to strict adherence to global standards on environment and social safety, as it is committed to a just energy transition. Responding to a question during the just-ended presentation of the bank’s 2023 financial performance, held at the Kampala Serena Hotel on March 25, 2024, Paul Muganwa, the Head of Corporate and Investment…
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