Tanzania Ordered To Pay Standard Chartered Bank $185 Million In Damages

The government of Tanzania has been ordered to pay damages amounting $185 million to Hong Kong's subsidiary of Standard Chartered Bank, for breach of an energy contract. That was reported by several media on October 17, 2019. The order was issued by World Bank's International Centre for Settlement of Investment Disputes.

The East African nation is said to be facing other similar claims for damages, including a $561 million claim from a US company called Symbion Power.

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