UGANDAN GOVT SEEKS PARLIAMENTS APPROVAL FOR 95 MLN USD LOAN FOR ROAD PROJECT

KAMPALA, The Ugandan government is seeking approval from Parliament to borrow 95 million US dollars from the African Development Bank (AfDB) and the African Development Fund (ADF) for the construction of the 73-kilometre Kapchorwa-Suam road in Eastern Region (Province).

The road is part of a multinational project involving Uganda and Kenya dubbed the Kapchorwa-Suam-Kitale and Eldoret Bypass roads project. Suam is located near the border with Kenya.

If endorsed by Parliament, the AfDB will lend Uganda 38.4 million USD while the ADF will lend 56.12 million USD. The Ugandan government is expected to also contribute 11.28 million USD towards the project.

The Kapchorwa-Suam road in the eastern part of the country is part of the overall 150 km-long regional project. The Ugandan section traverses north of Mt. Elgon National Park through the districts of Kapchorwa, Kween and Bukwa, ending in Suam at the border with Kenya.

The Ugandan section is scheduled to be implemented during the period 2017 to 2021.

State Minister for Planning David Bahati told the Parliamentary Committee on National Economy last week that the AfDB loan would be repaid within 25 years, including an eight-year grace period. The ADF loan repayment period is 40 years, including a grace period of 10 years, he added.

The Uganda National Roads Authority (UNRA) will implement the Kapchorwa-Suam project, Bahati told the committee.

Source: NAM NEWS NETWORK

Related Post
At least 14 UN peacekeepers were killed and more than 50 wounded when armed men
DAR-ES-SALAAM, Tanzania's President John Magufuli has urged the French oil and gas conglomerate, Total, the
JUBA South Sudanese refugees in Uganda's Adjumani district want to see a federal system of

Comments are closed.