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Uganda to Borrow $400M for Infrastructure & Agriculture Development: Finance Ministry

The government plans to use this borrowing to fund infrastructure projects that will spur economic growth, State Minister for Finance Henry Musasizi said.

The funding sources include:

African Development Bank ($253 million),
UN’s International Fund for Agricultural Development,
Islamic Development Bank,
UniCredit Bank Austria.

Musasizi did not provide a specific timeline for when the loans would be finalized.

According to Musasizi, a significant portion of the credit will be allocated to completing a stalled toll road connecting Uganda with neighboring Rwanda, Burundi, and the Democratic Republic of the Congo. The remaining funds will support the construction of new facilities in the health sector.