Kampala, Uganda – The Ugandan government has requested Parliament’s approval for a loan of $2.5 billion to fund national road upgrades and support the Uganda Climate Smart Agriculture Transformation Project.
According to the Parliament order paper for October 10, 2023, the government plans to table a loan request of $295 million (approximately UGX 1.1 trillion) from the Islamic Development Bank and $30 million (about UGX 111.8 billion) from the OPEC Fund for International Development for the improvement of national roads.
Uganda’s road network consists of various categories, including national roads, district roads, urban roads, and community access roads.
Additionally, the government is seeking approval for a loan of $325 million (around UGX 1.2 trillion) and a grant of up to SDR 19.5, equivalent to $25 million (about UGX 93.2 billion), from the International Development Association of the World Bank Group. These funds are intended to finance the Uganda Climate Smart Agriculture Transformation Project.
Both loan proposals will be presented by the Minister of Finance, Planning, and Economic Development and subsequently referred to the Parliamentary Committee on National Economy for consideration and approval by the House.