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Food security: Govt to borrow sh187b

By Vision Reporter

Added 13th February 2013 12:56 PM

Government is seeking to borrow over US$70.7m (over Sh187b) for food security, Masaka- Bukakata road project and for the Millennium Villages Project.

Food security: Govt to borrow sh187b

Government is seeking to borrow over US$70.7m (over Sh187b) for food security, Masaka- Bukakata road project and for the Millennium Villages Project.

By Joyce Namutebi and Henry Sekanjako            
        
Government is seeking to borrow over US$70.7m (over Sh187b) for food security, Masaka- Bukakata road project and for the Millennium Villages Project.


MPs, however, reiterated their demand to the Ministry of Finance to bring to Parliament a report on performance of all the loans passed by Parliament before entertaining any more loan requests.

The papers for the requests to borrow the money were laid in Parliament by state minister for finance (general duties), Fred Omach on Tuesday.

The government, according to the minister, is seeking to borrow US$34.05m from the Islamic development Bank (IDB) for financing the Enhanced National Food Security through increased rice production project.

It is also seeking to borrow another US$12m from the Arab Bank for Economic Development in Africa (BADEA) and US$15m from the OPEC Fund for International development (OFID) to finance the Masaka-Bukakata road project.

Omach tabled another request to borrow US$9.75m from IDB to support the scaling up and replication of Millennium Villages Project in Uganda.

After presenting the requests Paul Mwiru (FDC) said Parliament had asked the government to come up status report on the loans.

Stephen Mukitale said the Ministry of finance had before Christmas tabled in Parliament a report on performance of the loans, but all ministries should come up and explain themselves as far as loans passed for their sectors are concerned.

Omach promised to bring a report in four weeks-time.

Meanwhile, Parliament passed a motion for a resolution of Parliament to uphold the Commonwealth Parliamentary Association (CPA) as an organization for the promotion of democracy, development and international cooperation.

The motion was moved by Rosemary Seninde NRM) and supported by Christine Abia Bako (FDC).

Parliament recognized March 11 as the CPS Day and also resolved that Uganda will continue to be an active member of CPA and shall continue to participate in its activities.  

 

Food security: Govt to borrow sh187b

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