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Monday,September 23,2019 14:24 PM

World Bank loans at $1.2b

By Vision Reporter

Added 6th May 2008 03:00 AM

THE World Bank loan portfolio to Uganda reached $1.2b as of March. Mary Muduuli, the bank operations officer, only $669m of the loan had been disbursed.

By Mary Karugaba

THE World Bank loan portfolio to Uganda reached $1.2b as of March. Mary Muduuli, the bank operations officer, only $669m of the loan had been disbursed.

“We are about to end the phase of funding and the balance is still with the bank. Fortunately, these loans do not attract interests since they are concessional loans, with a long-term repayment period,” she said.

Muduuli was presenting a paper on the bank’s loan portfolio at a sensitisation workshop for legislators at the Kampala Serena Hotel.

Most of the loan requests expire in 2011. Five project loans expire in 2008, while seven run out in 2009, Muduuli said. She said 40% of the lending was used to finance energy projects such as the Bujagali hydropower, energy for rural transformation and sustainable management for mineral resources.

The bank also financed agriculture, infrastructure, public sector, social protection, and the private sector.

The bank plans to lend the Government $100m for road development programme during the 2008/9 financial year.

Another $100m will be lent to support secondary education, $100m for Northern Uganda Social Action Fund, $50m for energy for rural transformation and $10m for the second phase of the Lake Victoria environment management scheme.

World Bank loans at $1.2b

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