Share

Uganda gets $150m from EU for roads

Kampala - The European Union has given Uganda $151m in credit and grants to help pay for roads meant to help boost trade in east Africa, it said on Wednesday.

The EU has traditionally been a major source of financing for transport infrastructure for the prospective crude oil producer.

Uganda, however, has lately appeared to lean increasingly toward China which has extended cheap loans to help finance projects including highways, hydro power dams and public office blocks.

Uganda's national budget has been squeezed since major western donors including Britain, its biggest source of bilateral aid, suspended financial support toward the end of last year after allegations that $13m worth of aid had been embezzled. The EU, however, has continued its funding.

The latest funds will help to improve the Kampala Northern Bypass and construct the Mbarara Bypass, which would speed up the flow of cargo on a highway linking Uganda, Rwanda, Burundi, the Democratic Republic of Congo and South Sudan to Kenya's Mombasa seaport.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.92
-0.1%
Rand - Euro
20.47
+0.0%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.3%
Platinum
911.60
+1.6%
Palladium
1,012.97
+1.1%
Gold
2,213.47
+0.9%
Silver
24.80
+0.6%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders