Uganda Yet to Sign French Power Loan

The French government, under their development arm, French Development Agency say two mega energy projects in Uganda have not been signed despite availability of $112 million (Ush333.2 billion) funding writes PAUL TENTENA.

The French development arm says a concession loan of 42.9 million euros for rural electrification with an 8.3 million euros grant and the 45 million euros Muzizi Hydro Power Project whose funding agreement was supposed to be signed in 2014 has not yet been signed.

“We’re still awaiting the signing of the Muzizi and rural electrification projects,” Yves Boudot an official with the French Development Agency said last week.

Boudot said during a press conference at the French Embassy in Kampala that was hosted by the Ambassador Sophie Makame to highlight to the media on different projects funded by the French government in Uganda and Africa in general.

Boudot said there are a number of projects under feasibility studies like the power transmission line from Masaka to Mbarara which will cost the French government between 40 to 80 million euros.

In 2016, the French government will fund the Kiruhura District water project expected to cost 40 million euros and the National Water and Sewerage Corporation Masaka to Mbarara line that will worth 50 million euros.

Sophie Makame, the French Ambassador said her government has earmarked 3 billion euros which is 79% of the France government state allocated aid to Africa.

She said in 2014, most of the development aid went to reconciling development and climate change. “53% of the funding to foreign countries aided the fight against disruption,” said Makame.

When asked why the French Development Agency is not interested in funding key mage projects in Uganda like the Standard Gauge Railway and the Oil Refinery, Boudot said it is not their priority right now.

“We’re involved in the Rift Valley Railways program but we’re not under any obligation to fund every project in Uganda. We’re not a Commercial bank,” said Boudot.

Source : East African Business Week


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