World Bank mobilises funds for Bujagali, Karuma dams
Nov 29, 2005
THE World Bank is helping the Government mobilise funds for construction of two dams at Bujagali and Karuma, Uganda Investment Authority’s executive director has said.
By David Muwanga
THE World Bank is helping the Government mobilise funds for construction of two dams at Bujagali and Karuma, Uganda Investment Authority’s executive director has said.
Dr Maggie Kigozi said, “The World Bank has assured the Government that as soon as the financial closure (mobilisation of funds) of $350m (sh644b) for the construction of a dam at Bujagali is completed, they will immediately start looking for funds for construction of the Karuma dam.â€
Kigozi said the new developments follow the setting up of the Presidential Investors Roundtable (PIRT) by President Yoweri Museveni to identify obstacles to investment.
“The PIRT identified a power shortage and advised that both dams be developed at the same time because the power deficit in the country is high with only 5% of Ugandans having electricity,†she said during an interview.
Recently, the PIRT members held a meeting with President Yoweri Museveni at Mweya Safari Lodge and resolved that railway transport costs charged by concessionaires should be benchmarked to ensure increased efficiency for Uganda.
“As a way of improving railway transport, the Government is to extend the railway line from Pakwach to Juba via Yei in southern Sudan,†Kigozi said.
THE World Bank is helping the Government mobilise funds for construction of two dams at Bujagali and Karuma, Uganda Investment Authority’s executive director has said.
Dr Maggie Kigozi said, “The World Bank has assured the Government that as soon as the financial closure (mobilisation of funds) of $350m (sh644b) for the construction of a dam at Bujagali is completed, they will immediately start looking for funds for construction of the Karuma dam.â€
Kigozi said the new developments follow the setting up of the Presidential Investors Roundtable (PIRT) by President Yoweri Museveni to identify obstacles to investment.
“The PIRT identified a power shortage and advised that both dams be developed at the same time because the power deficit in the country is high with only 5% of Ugandans having electricity,†she said during an interview.
Recently, the PIRT members held a meeting with President Yoweri Museveni at Mweya Safari Lodge and resolved that railway transport costs charged by concessionaires should be benchmarked to ensure increased efficiency for Uganda.
“As a way of improving railway transport, the Government is to extend the railway line from Pakwach to Juba via Yei in southern Sudan,†Kigozi said.