Ugandan affairs provide key connection

An upgrade to the road link connecting the cities of Kampala and Entebbe in Uganda will be funded by a loan worth US$350 million being provided by the Chinese Exim Bank.
February 29, 2012 Read time: 1 min
An upgrade to the road link connecting the cities of Kampala and Entebbe in Uganda will be funded by a loan worth US$350 million being provided by the 3422 Chinese Exim Bank. The work will focus on upgrading a 37km section of road from the Busega-Mityana junction to the Entebbe road at Kajjansi. In addition, a 14km spur will be built to connect 14km from Munyonyo to Lweza. The deal has been approved by the 1073 Ugandan Government and Uganda is expected to settle the loan in 20 years time. The deal has a five year grace period and the loan comes with an annual interested rate of 2%.

For more information on companies in this article

Related Content

  • Chinese funding will help pay for Macedonia road project
    October 4, 2013
    In Macedonia a new 50km section of highway will be constructed, with €574 million of financing coming from China's Export-Import Bank. The Exim Bank credit line to Macedonia will be used to build a the highway connecting Skopje and Stip. The new route will also link Stip with pan-European transport corridor 10. The loan will carry an interest rate of 2% and will have a 20 year term with a five year grace period. Macedonia is close to completing work on the corridor 10 road project, which is worth €300 milli
    Read More
  • East Africa’s dream of a ‘Silk Road’ in sight
    October 22, 2021
    East Africa’s dream of a ‘Silk Road’ route to boost trade and transport is now in sight
    Read More
  • Uganda requesting transportation loan from World Bank
    July 27, 2015
    Uganda is requesting a loan worth some US$145 million from the World Bank. The loan has been recommended by the Ugandan Parliament. Provided by the World Bank's International Development Association (IDA), the funding will help pay for Uganda’s the road connectivity development project. This will focus on work in the country’s Albertine Region districts over a five-year period. The road connectivity development project will boost access to infrastructure and help develop the economy of the Albertine Region.
    Read More
  • East Africa drives towards road tolling
    March 18, 2016
    Road tolling is increasing in East Africa as the region’s countries expand highway networks - Shem Oirere writes. The drive towards road tolling in East Africa is gaining momentum. Uganda appears to have broken ranks with its neighbours to make huge strides in achieving progress with this innovative road financing plan. Road tolling has hitherto has been held back in East Africa for lack of political goodwill and State bureaucracies. Kenyan government officials have made announcements on planned road tollin
    Read More

Highlighted Content