Dar es Salaam, March 28 -- TANZANIA: THE East African Crude Oil Pipeline (EACOP) project has achieved a major milestone following a successful closure of the first tranche of external financing, marking a significant step forward for the regions largest infrastructure investment.

According to a statement released yesterday by EACOP, the financing, secured from a syndicate of leading financial institutions, underscores the confidence in the projects viability and its potential to transform the East African energy sector.

The statement reads that the funding partners includes regional financial powerhouses such as African Export-Import Bank (Afreximbank), the Standard Bank of South Africa Limited, Stanbic Bank Uganda Limited, KCB Bank Uga...