The African Development Bank Group approved $252.83 million in loans to fund road construction projects in Uganda. The financial package consists of $179.68 million from the African Development Bank and $73.15 million from the African Development Fund.
The funding will support the construction of two key roads – the Laropi-Moyo-Afoji road and the Katuna-Muko-Kamuganguzi road. The Laropi-Moyo-Afoji road is located in northwestern Uganda in the Moyo district, which has a population of around 140,000. 80% of the land in Moyo is suitable for agriculture and horticulture. The Katuna-Muko-Kamuganguzi road is also strategically important for trade and connectivity in the region. Together, these roads will boost economic opportunities for agricultural communities in the Kabale and Rubanda districts, home to approximately 460,000 people.
As of November 2023, Uganda has 23 active projects funded by the African Development Bank Group totalling $1.957 billion. This latest loan approval demonstrates the Bank’s continued commitment to investing in critical infrastructure to accelerate economic growth and improve lives across Uganda. The new roads will enhance regional integration, facilitate cross-border trade, and provide rural communities with better access to markets and social services.
Read the original article here: https://afdb.africa-newsroom.com/press/uganda-african-development-bank-to-lend-more-than-252-million-to-improve-rural-transport-and-facilitate-regional-integration?lang=en