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@kfm Wed, 11 Oct 2023 05:35:08

Govt to borrow Shs2.4t for roads, climate-smart agriculture

By Franklin Draku Government has tabled before Parliament a request to borrow up to $650 million (Shs2.9 trillion) from different financial institutions to finance part of its budget. According to a request presented by Mr Matia Kasaija, the Minister of Finance, Planning and Economic Development, government will borrow up to $295 million (Shs1.3 trillion) from the Islamic Development Bank and $30 million (Shs136.2 billion) from the Organisation of the Petroleum Exporting Countries (OPEC) fund for international development for the upgrading of national road project in Uganda. Mr Kasaija said the government will borrow another $325 million (Shs1.5 trillion) and receive a grant of up to Standard Drawing Right of $19.5 million (Shs88.5 billion), equivalent to $25 million (Shs113.5 billion) from […]

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