The government is requesting Parliament’s approval for a loan of sh2.5 trillion to fund the enhancement of national roads and support the Uganda Climate Smart Agriculture Transformation Project. This proposal will be presented before Parliament on Tuesday, October 10, 2023, as outlined in the Parliament order paper.
Two separate loan requests are on the agenda. The first one seeks $295 million (approximately sh1.1 trillion) from the Islamic Development Bank and $30 million (sh111.8 billion) from the OPEC Fund for International Development. These funds are designated for the improvement of national roads in Uganda, which encompass various categories such as national, district, urban, and community access roads.
Additionally, the government is pursuing a loan of $325 million (approximately sh1.2 trillion) along with a grant of up to SDR 19.5, equivalent to $25 million (sh93.2 billion), from the International Development Association of the World Bank Group. These resources are intended to support the Uganda Climate Smart Agriculture Transformation Project.
Following the presentation of these loan proposals by the Minister of Finance, Planning, and Economic Development, they will be subjected to review and approval by the parliamentary committee on national economy.