Uganda gets $151m African Development Bank loan for toll road
Kampala — Uganda will expand a major road linking its capital Kampala with Rwanda after signing a deal on Thursday for a $151m loan from the African Development Bank (AfDB). The 40-year loan will partly finance a new 23km, four lane toll road to help de-congest traffic on an existing road, the finance ministry and AfDB said, adding that the government would fund the remainder of the $192m project. In recent years East African countries have been investing heavily in transportation infrastructure to help boost trade. A significant chunk of that investment has been directed toward upgrading sections of what is known as East Africa’s northern corridor, a transport artery that loops in Uganda, Rwanda, Burundi and eastern Democratic Republic of Congo, stretching eastward to the Kenyan sea port of Mombasa. Matia Kasaija, Uganda’s finance minister, said at a signing ceremony that the project was aimed at "increasing overall competitiveness and creating additional wealth and employment". Th...
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