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Monday, May 12, 2014
The government of Uganda is looking to borrow $145 million from the World Bank in an effort to improve infrastructure in the Albertine regions.
“Cabinet approved a proposal by the Ministry of Finance…to borrow funds for improving infrastructure and social services in Uganda’s Albertine region,” said a statement issued by information minister, Rose Namayanja. It added the money would be borrowed from the World Bank’s International Development Association (IDA).
The statement issued by the government did not specify exactly what infrastructure the loan would finance; although in the past officials have said the road network in the region need improvement.
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