Uganda: Govt, Islamic Development Bank Sign U.S.$295 Million Deal to Finance Roads

30 April 2024

Finance Minister Matia Kasaijja who is attending the 2024 Islamic Development Bank Group annual meetings in Riyadh,Saudi Arabia has signed a financing agreement with the president of Islamic Development Bank Dr. Muhammad Al Jassar worth $ 295 million for upgrading of national roads.

The funding will go towards construction of Masindi-Port Bridge where the ferry crosses River Nile and connects to Renkunye-Apac-Lira road.

The other road project is Kyenjojo-Kihura-Bwizi-Rwamwanja-Kahunge(68km)/Mparo-Bwizi (37km) road which connects Kamwenge town to Kampala Fort Portal highway.

Minister Kasaijja extended his gratitude to Islamic Development Bank for the cordial cooperation that exists with the government of Uganda before hailing the Islamic Development Bank for establishing a regional hub in Kampala.

"I want to affirm that we shall fulfill our obligations under the agreement," said Kasaijja.

Islamic Development Bank is the third largest multilateral donor to Uganda contributing over 20% support in areas of roads, energy and education.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.