Business
Uganda fails to access $4m fund
Publish Date: Feb 21, 2014
Uganda fails to access $4m fund
Henry Nyakoojo, the Technical Advisor for EIF in the trade ministry
  • mail
  • img
newvision

By Joe Nam

Uganda’s access to the $4m (about sh10b) aid to trade hangs in the balance, after the Enhanced Integrated Framework (EIF) Programme officials said the trade ministry is submitting conflicting project proposals.


The Geneva-based EIF officials said Uganda seems undecided on whether to claim the money or not, although it is entitled to it.

The fund is part of the Aid for Trade, an arrangement in which wealthier nations agreed to fund poor ones to fully participate in international trade. One trade related project would be funded per recipient country

According to the EIF Secretariat in Geneva, Uganda has sent a number of conflicting project proposals. They include proposals for silk production, aloe vera, gum Arabica, honey and tourism and hospitality training.

“We are confused as to what Uganda wants. We want the Government to agree on one project proposal in which the country has a clear competitive advantage and inform us accordingly,” said the EIF Executive director Dr. Ratnakar Adhikari in a recent visit to Uganda.

However, Henry Nyakoojo, the Technical Advisor for EIF in the trade ministry says Uganda has the option of sending a number of proposals from which the EIF can choose what to fund.

“I have heard this talk of competitive advantage and priorities before,” said Nyakoojo. “I think we are able to determine what our priorities are as a country.”

Dr. Adhikari, however, commended Uganda for good implementation of previous EIF projects. He cited the training of District Commercial Officers to effectively facilitate trade at district and village level.

The EIF project contributed to the formulation of trade related legislations and policies in the country, including the Consumer Protection Bill, Anti Counterfeit Bill, Trade Licensing Amendment Bill, Regulation for Hire Purchase Act and Competition Policy.

 

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

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Mutebile to speak on technology, financial inclusion
Central bank governor Prof. Tumusiime Mutebile is expected to deliver a keynote address focusing on regulation of information technologies in August....
Are foreign direct investments benefitting EAC citizens?
East African Community (EAC) member states continue to post impressive Foreign Direct Investment (FDI) figures, according to the 2015 World Investment Report....
Lack of compliance to UNBS laws fueling counterfeits
LACK of complying with existing laws under the Uganda National Bureau of Standards (UNBS) and stipulated standards has led to the increased usage of counterfeit materials...
Standard Chartered scoops best consumer digital bank award
Standard Chartered Bank Uganda has been awarded best consumer digital bank by Global Finance Magazine. Standard Chartered Bank PLC largely dominated the Global Finance Magazine’s 2015 Best Consumer Digital Bank Awards in Asia, Africa and the Middle East, winning 17 country awards and 6 regional aw...
Tororo cement in sh86b expansion
Tororo Cement Limited, Uganda’s largest cement manufacturer has injected $ 25m (about sh86b) towards the plant expansion....
EAC countries asked to create more dry ports
There is need for more dry ports to respond to the growing business in grain trade at the three border posts of Namanga, Busia and Hororo....
Should faith based organisations be registered as Non-government organisations?
Yes
No
Can't Say
follow us
subscribe to our news letter