KAMPALA – The Minister of Finance, Planning and Economic Development, Hon. Matia Kasaija, on Tuesday appeared before the Parliamentary Committee on National Economy to present proposals for new loans and grants totaling over USD 1.6 billion from various international financial institutions.
The Minister was accompanied by a high-level delegation including Ministers for Works, Energy, Agriculture, Education, and Relief, Disaster Preparedness and Refugees.
The largest request is for a loan of up to USD 1,341 million from the International Development Association (IDA) of the World Bank, alongside grants worth USD 328.3 million. This funding is earmarked for several key national projects and programs:
· Northern Uganda Social Action Fund (NUSAF IV): The fourth phase of this program aimed at improving livelihoods in Northern Uganda.
· Development Response to Displacement Impacts Project (DRDIP II): The second phase of a project designed to support refugee-hosting communities.
· Uganda Learning Acceleration Program (ULEARN): A program focused on enhancing the education sector.
· Uganda Cities and Municipalities Infrastructure Development (UCMID) Program: Aimed at boosting urban infrastructure across the country.
· Strengthening Public Investment and Asset Management for Growth and Resilience Program (PIMPLUS): A program to improve how the government manages its investments and assets.
In addition to the World Bank package, Minister Kasaija presented three other loan proposals:
- USD 20 million from the Arab Bank for Economic Development in Africa (BADEA) to finance the construction of the 16km Nebbi-Goli road.
- Euro 115,876,831 from Standard Chartered Bank to finance critical oil roads. This package, designated as Package 6B, includes the design and upgrading of the 56km Karugutu-Ntoroko road, an 8.2km link to Rwebisengo, and 3.3km of town roads in Ntoroko, bringing the total to 68km.
- Euro 192,959,605.47 from CITI Bank to finance the first phase of the Enhancing Agricultural Production, Quality and Standards for Market Access Project. This project is specifically expected to improve the quality and marketability of Uganda’s agricultural products both locally and internationally.
While presenting the proposals, Minister Kasaija emphasized that the funds are crucial for financing vital development areas that will contribute to Uganda’s long-term goal of achieving tenfold economic growth.
The Chairperson of the Committee, Hon. John Bosco Ikojo, received the proposals and assured the Minister that his committee would diligently scrutinize the requests before reporting back to Parliament for a final decision.
