News Formal

Uganda: Govt, Islamic Development Bank Sign U.S.$295 Million Deal to Finance Roads

  • 📰 allafrica
  • ⏱ Reading Time:
  • 42 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 69%
  • Publisher: 99%

Africa News

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.

The other road project is Kyenjojo-Kihura-Bwizi-Rwamwanja-Kahunge/Mparo-Bwizi 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.Islamic Development Bank is the third largest multilateral donor to Uganda contributing over 20% support in areas of roads, energy and education.).

AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 400 news and information items daily from over 100 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Future of Finance: Why Sponsor Digital Finance Africa 2024?In the dynamic realm of fintech, DFA 2024 hosted by IT News Africa, emerges as a beacon for innovation, and collaboration, Scheduled for July 4th in Sandton.
Source: ITNewsAfrica - 🏆 27. / 59 Read more »

Africa: Development Finance - How It Works, Where It Goes, Why It's NeededAnalysis - Development finance is the invisible glue that connects public and private financing for projects that have social, economic and environmental outcomes. These include improved infrastructure, better waste management and sanitation, financial inclusion, clean energy and sustainable agriculture.
Source: allafrica - 🏆 1. / 99 Read more »