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RIYADH - The Finance Minister, Matia Kasaija, who is attending the 2024 Islamic Development Bank Group Annual Meetings in Riyadh, Saudi Arabia (27-30 April 2024) has signed a financing agreement with the President of the Islamic Development Bank, Dr Muhammad Al Jassar worth $295 million for upgrading of national roads.

This funding will go towards the construction of the Masindi-Port Bridge where the ferry crosses River Nile and connects to Renkunye-Apac-Lira road.

The other road project is Kyenjojo-Kihura-Bwizi-Rwamwanja-Kahunge(68km)/Mparo-Bwizi (37km) road which connects Kamwenge town to Kampala Fort Portal highway.

Kasaija on behalf of government of Uganda extended gratitude to Islamic Bank for the cordial cooperation that exists with government and also appreciated the bank for establishing a regional hub in Kampala.

"I want to affirm that we shall fulfill our obligations under the agreement," Kasaija said.
The Islamic Development Bank is the 3rd largest multilateral donor to Uganda contributing over 20% support in areas of roads, energy, and education.

Kasaija also signed a framework agreement with the Islamic Trade Finance Corporation (ITFC) arm of the group to facilitate trade in Uganda.