By Sekaggya Seka Moses
The Parliament of Uganda is scheduled to hold a Plenary sitting this afternoon, starting at 2:00 pm.
Top of the agenda is the proposal by the Ministry of Finance to borrow funds from international organizations to finance infrastructure projects in the Kampala Metropolitan Area.
According to the proposal, the Ministry of Finance is seeking to borrow US$518 million (approximately UGX1.873 trillion) and receive a grant of US$48 million (approximately UGX173.625 billion) from the World Bank.
The loan is intended to finance road construction projects in the Kampala Metropolitan Area.
Additionally, the Ministry of Finance is proposing to borrow Euro40 million (approximately UGX151.449 billion) from Agence Francaise de Development (French Government) to support the road construction projects.
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Furthermore, the Ministry of Finance is expected to table a separate proposal to borrow Euro45 million (approximately UGX170.380 billion) from the French Government to support the Kampala water and sanitation projects.
The proposals are aimed at improving the infrastructure and services in the Kampala Metropolitan Area, which is a critical hub for economic activity in Uganda.
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