China gives Uganda sh46b

Business

China gives Uganda sh46bPublish Date: Oct 19, 2012

newvision

By Innocent Anguyo

The Government of the People’s Republic of China has given Uganda sh46b) for implementing development programmes.

The Chinese ambassador to Uganda, Zhao Yali and Fred Jachan Omach, the state minister of finance, planning and economic development, signed two agreements in loan and grant to Uganda at the ministry’s headquarters in Kampala Friday.

Of the money, sh20b) is a grant while sh26b is a non-interest loan to be paid back within ten years effective September 2022.

The money will be utilised for implementing development projects that will be agreed between the Governments of the two countries.

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

blog comments powered by Disqus

Also In This Section

Gender issues hurting trade in EAC

East African partner states are not doing enough to address gender issues as enshrined in the East African Customs and Common Market Protocol thus hurting cross border trade and regional integration, experts have observed.The women drawn from government, academia and civil society from Kenya, Ugand...

Security lapses causing mobile money robberies

Meddie Tamale was visiting his mother after work when he was shot at. By the time people arrived at the scene, Tamale was already dead....

Chamber of commerce, agent in sh349m commission rift

The Uganda National Chamber of Commerce and Industry(UNCCI) is locked in a sh349m rift with a commission agent, with the latter claiming he is owed the money as balance for connecting the former to a businessman in purchase of a $3m(sh7.7b) city property....

Investors asked to focus on agriculture

The Government has asked investors to stop branding the agricultural sector as a risky area to invest in.The call was made by Bright Rwamirama the minister of state for animal husbandry, while officiating at a workshop on agricultural risk management at the Imperial Royale Hotel in Kampala....

New law for Public-Private Partnerships in offing

Current procurement laws are rigid and inflexible, making them untenable for the new dispensation of Public-Private Partnerships (PPPs)....

Shilling up on inflows from exporters, charities

The Uganda shilling strengthened on Friday due to dollar inflows from commodity exporters, charities and sell-offs by offshore investors betting on a weaker greenback. At 0932 GMT commercial banks in Kampala quoted the currency of east Africa''s third-largest economy at 2,560/2,570, stronger than T...

POLL

Uganda will get a new Cranes soccer coach this week. Who should it be?

A Ugandan coach

A top African coach

A European coach

subscribe to our news letter