AFDB SIGN US$94.52M CONTRACT FOR UGANDA ROAD PROJECT

AFDB loans US$94.52m to uganda for the Kapchorwa-Suam-Kitale and Eldoret Bypass Roads Project.

Africa Development bank(AFDB) held a meeting with uganda government about the construction of a major road project in the nation that will help the country construction sector. The contract was signed after the meeting and a loan of US$94.5m was given to the government for the Kapchorwa-Suam-Kitale and Eldoret Bypass Roads Project which will link uganda and kenya.

AfDB Director General, Gabriel Negatu,  “The bank will bring, throughout the project cycle, engineering, environmental and economic expertise and experience to realize the objectives and benefits of the project.”

The project is in line with AfDB’s objective which is to accelerate Africa’s transformation through promoting regional integration and improving people’s living standards.

The road project which is about 118km is expected to produce trade through the eastern part of the country by linking it to kenya which will reduce travel time between the two countries, and contribute to poverty reduction by improving household incomes and well-being through increased access to markets and social services.

Uganda’s Minister of Finance for investment Evelyn Anite, ”As part of the project, a one-stop border post will also be constructed at Suam.”

The project is expected to be completed in 2021.

 

 

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