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Friday,November 16,2018 23:59 PM

MPs approve sh100b loan

By Vision Reporter

Added 13th December 2001 03:00 AM

PARLIAMENT on Wednesday passed a resolution allowing the Government to borrow $64.5m (sh109b) for road construction from the International Development Agency (IDA).

By Hamis Kaheru and John Odyek PARLIAMENT on Wednesday passed a resolution allowing the Government to borrow $64.5m (sh109b) for road construction from the International Development Agency (IDA). The money will be utilised under phase II of the Road Development Programme. The programme includes the upgrading to paved standards of the Karuma-Pakwach-Nebbi-Arua road, Karuma-Olwiyo-Pakwach section, and strengthening Katungulu-Kasese-FortPortal, Kasese-Kilembe and Equator roads. The Minister of State for Finance (General Duties), Mwesigwa Rukutana, who moved the motion, said the programme would help fight poverty in rural areas through improved accessibility. The chairman of the committee on the national economy, Nathan Nandala Mafabi, said the total cost of the programme is US $97.3m (sh165b). The Government will contribute $23.5m (sh40b) while the remaining $9m (sh15b) will come from the Nordic Development Fund.

MPs approve sh100b loan

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