The Government of Uganda has secured a €270 million (approximately UGX 1.1 trillion) loan from the African Export-Import Bank (Afreximbank) to finance key development and infrastructure projects in the 2024/25 financial year.
The 10-year term loan facility, announced by Finance Minister Matia Kasaija, will support a wide range of government initiatives aimed at accelerating socio-economic transformation and sustainable growth.
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According to the Ministry of Finance, the funds will be directed towards investments in infrastructure and human capital development, including value addition in agriculture, support for the oil and gas sector, energy generation, transmission and distribution, industrial parks, special export processing zones, and the construction and maintenance of road, rail, and port infrastructure.
Kasaija described the financing as a vote of confidence in Uganda’s development agenda and a demonstration of Afreximbank’s role in providing homegrown solutions for Africa’s growth.
“This facility underscores the Bank’s relevance to Uganda and the continent, reflecting its confidence in delivering solutions tailored to the development priorities of its member countries,” he said.
In a further show of commitment, Afreximbank has chosen Uganda to host its East African Regional Office, currently under construction on Yusuf Lule Road in Kampala. The new office will also house the Africa Trade Centre, a hub for trade and trade-related financing activities in the region.
“These investments signify Afreximbank’s strong confidence in the Government of Uganda and our shared vision of promoting trade and development in Africa,” Kasaija added.
The government maintains that the loan will help fast-track priority infrastructure projects while reinforcing Uganda’s ambition to position itself as a key player in regional trade and industrialisation.