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UK Export Finance (UKEF) give out biggest loan for the construction of a new airport in uganda.
The loan is the biggest that has ever been given out by the UK Export Finance (UKEF) and it is for Uganda’s second international airport after Entebbe which will be located in the Kabaale region.
The project is UKEF’s first major project in Uganda and the contract was handed to Sussex-headquartered Colas UK to build the runway, taxiway, cargo terminal and other infrastructure.
UK International Trade Secretary, Liam Fox; “vital work to be carried out on large-scale infrastructure and energy projects planned in the area and will have significant long-term benefits for the country’s developing economy and energy independence,”
According to him;“The UK is a global leader in the infrastructure sector and I’m delighted that UK Export Finance is helping the Ugandan government and Colas on this significant project.”
The work is scheduled to begin in January 2018 and additional financing will be provided by Standard Chartered which acted as the lead arranger for the deal.
Director of Strategic Projects at Colas UK, Carl Fergusson; ”Uganda had huge untapped natural resources, rapid urbanisation and attractive demographics and that the requirement for investment in infrastructure to support continued regional development is clear.”