23.3 C
Sunday, June 23, 2024

AfDB, Uganda sign US$94.52 million road construction deal

More News

- Advertisement -

The African Development Bank(AfDB) has signed a US$94.52 million loan with Uganda to go towards a major road construction in the country.

The road is part of a multinational project involving Uganda and Kenya dubbed the Kapchorwa-Suam-Kitale and Eldoret Bypass Roads Project.

Uganda believes that the 118 kilometers road project  will open trade through the eastern part of the country by linking the it to Kenya. Uganda’s minister of finance for investment Evelyn Anite says that as part of the project, a one-stop border post will be also be constructed at Suam.

The road construction is expected to be completed in 2021.

Read:Kenya signs contract for Ksh62b Lamu-Isiolo road building

The AfDB director general, Gabriel Negatu said upgrading the road 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.

Negatu said the project is also in line with the EAC regional integration agenda, and is in line with the AfDB’s objective to accelerate Africa’s transformation through promoting regional integration and improving people’s living standards.

He said the bank also aims to increase agricultural production on the continent through access to markets and promoting industrialization.

“The bank will bring, throughout the project cycle, engineering, environmental and economic expertise and experience to realize the objectives and benefits of the project,” he said.

- Advertisement -


Please enter your comment!
Please enter your name here


Discover amazing advertising opportunities on CCE NEWS and get 20% off for your first advert. Click below:



Top Events