Uganda: Parliament Okays Shs190 Billion Agriculture Funds

4 November 2011

Parliament has authorised the government to borrow $70 million (about Shs200b) from the African Development Bank and the Islamic Development Bank to boost agricultural production and productivity as yet another measure to curb the high inflation.

Rising food costs due to drought and higher oil prices have escalated inflation in the country to 30.5 per cent in October, the highest since 1993, the Uganda Bureau of Statistics, announced this week.

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