Uganda to borrow €20m for karamoja survey projects.

Uganda Government will borrow €20m from Corporate Internationalization fund of Spain for Karamoja project survey. This was make public by government spokesperson Ofwono Opondo.

Cabinet member authorize the fund which will be use for the implementation of the Airborne Geophysical survey and Geological mapping. During the official announcement, Opondo says that with this mapping, government will be able to establish the various categories of minerals within Karamoja in addition to their worth.

.@OfwonoOpondo: Cabinet also approved the proposal to borrow up to EURO 20,622,435 from the Corporate Internationalization Fund of Spain, for the implementation of Project “Airborne Geophysical Survey and Geological mapping of Karamoja” #UGCabinetResolutions pic.twitter.com/xlKhJEY76N

— Uganda Media Centre (@UgandaMediaCent) May 28, 2019

According to him, the loan will help government improve on the lives of people living in mining communities. While, Universities are to benefits from access to minerals data to facilitate research.

Ofwono Opondo said ”Karamoja is the biggest baskets of minerals in Uganda. But nobody has been able to establish as a fact the quality of each of the categories of minerals.”

The region is been considered because it is one of the few areas that is still having high level of poverty. This is due to less economy activities in the area.

Click on the floating icon on the right to subscribe. More so, please share, Follow us on Twitter and don’t forget to also like us on Facebook. Read more on Uganda