Sh180b for Fort Portal road repair
Apr 23, 2008
THE Government is seeking approval of a sh180b loan to upgrade the Fort Portal-Bundibugyo road.
By Mary Karugaba
THE Government is seeking approval of a sh180b loan to upgrade the Fort Portal-Bundibugyo road.
Finance minister Dr. Ezra Suruma told the parliamentary finance committee that the money would be borrowed from the African Development Bank at an interest rate of 0.7%.
Suruma said the upgraded road was important for social and economic development of the region and would link Uganda to the DR Congo.
“The road is in poor shape due to landslides. The terrain is mountainous and is often slippery during rainy seasons.â€
The minister of state for works and transport, John Byabagambi, told the MPs that the construction would begin in January.
However, the MPs were concerned about the Government’s delay to provide counterpart funding.
The finance minister said the Government had provided sh3.2b as counterpart funding and sh3.9b for compensation in the Budget.
THE Government is seeking approval of a sh180b loan to upgrade the Fort Portal-Bundibugyo road.
Finance minister Dr. Ezra Suruma told the parliamentary finance committee that the money would be borrowed from the African Development Bank at an interest rate of 0.7%.
Suruma said the upgraded road was important for social and economic development of the region and would link Uganda to the DR Congo.
“The road is in poor shape due to landslides. The terrain is mountainous and is often slippery during rainy seasons.â€
The minister of state for works and transport, John Byabagambi, told the MPs that the construction would begin in January.
However, the MPs were concerned about the Government’s delay to provide counterpart funding.
The finance minister said the Government had provided sh3.2b as counterpart funding and sh3.9b for compensation in the Budget.