The Government of Uganda has signed a €270 million (approx. UGX 1.1 trillion) 10-year term loan facility with the African Export-Import Bank (Afreximbank) to support key projects under the country’s development budget.
According to Finance Minister Matia Kasaija, the financing package will fund investments in infrastructure and human capital development aimed at accelerating sustainable growth and socio-economic transformation.
The funds will support projects in value addition to agriculture, the oil and gas sector, energy generation and transmission, export processing zones, industrial parks, as well as the construction and maintenance of road, rail, and port infrastructure.
“This loan demonstrates the confidence Afreximbank has in Uganda’s development agenda and reflects the Bank’s commitment to providing solutions that respond to the needs of its member countries,” Kasaija said.
Beyond financing Uganda’s projects, Afreximbank is also strengthening its presence in the country by establishing its East African Regional Office in Kampala.
The office, currently under construction along Yusuf Lule Road, will host the Africa Trade Centre to oversee the Bank’s operations in the region and promote trade-related financing activities.
Officials say the facility and the new regional office highlight Afreximbank’s trust in Uganda’s stability and its shared vision with government to drive trade, industrialization, and regional development.
The Source Reports.
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