Gov't, Islamic Development Bank sign $295m deal to finance roads
Finance Minister Matia Kasaijja who is attending the 2024 Islamic Development Bank Group annual meetings in Riyadh,Saudi Arabia has signed a financing agreement with the president of Islamic Development Bank Dr. Muhammad Al Jassar worth $ 295 million for upgrading of national roads.
The funding will go towards construction of Masindi-Port Bridge where the ferry crosses River Nile and connects to Renkunye-Apac-Lira road.
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The other road project is Kyenjojo-Kihura-Bwizi-Rwamwanja-Kahunge(68km)/Mparo-Bwizi (37km) road which connects Kamwenge town to Kampala Fort Portal highway.
Minister Kasaijja extended his gratitude to Islamic Development Bank for the cordial cooperation that exists with the government of Uganda before hailing the Islamic Development Bank for establishing a regional hub in Kampala.
"I want to affirm that we shall fulfill our obligations under the agreement," said Kasaijja.
Islamic Development Bank is the third largest multilateral donor to Uganda contributing over 20% support in areas of roads, energy and education.
