Parliament has accepted a request by the government to borrow Shs 1.2 trillion to upgrade national roads across the country. The money is to be borrowed from the Islamic Development Bank and the OPEC Fund for International Development.
The funds will facilitate the rehabilitation of the Masindi port bridge, designed to last for 100 years. Katine-Ochero road, Kiruhura-Bwizi-Rwamwanja-Kahunge road. And Mpara-Bwizi road, each designed to last for 20 years.
Robert Migadde, national economy committee deputy chairperson, presented an assessment report of the loan request. He stated that as long as Uganda’s public debt remains within sustainable levels, the country is rated at moderate risk of debt distress.
Related articles; Katonga Steel Bridge is finally ready for public transport
Further, the committee also implored ministries, departments, and agencies (MDAs) to observe strict project designs before sourcing for money. This is to minimize project delays by effectively compensating project-affected persons (PAPs) under the Upgrading of National Roads Project.
In conclusion, the committee recommended that the Ministry of Finance, Planning, and Economic Development renegotiate the risk premium of the loan. This is a lower rate, and we also have it fixed for the entire debt servicing period.
Check also;
- Whole truth about Dembe FM Shut Down after 21 years
- Court halts sale of Muslim property in Kampala
- Musa Musasizi jailed over 100 years for killing four girlfriends
written by @enock katamba
- Mr. katamba Enock: Professional designer with experience in web designing who started this activity in 2019 at Kyambogo University after graduation . Contact me on : (+256-758287080)
Latest entries
SportsApril 13, 2025Andre Onana Dropped From Man United Squad To Face Newcastle
NationalApril 13, 2025BREAKING! Karuma Bridge Reopens Again On Monday
International newsApril 13, 2025South Sudan Denies Expulsion Of US Ambassador Michael J. Adler
SportsApril 13, 2025Yoane Wissa Spoils Arsenal Party After Scoring An Equaliser
