× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

Uganda gets Sh15.4b loan from AfDB for toll road

NEWS
By Reuters | January 3rd 2017

 

African Development Bank (AfDB). (Photo: Courtesy)

Uganda will expand a major road linking its capital Kampala with Rwanda after signing a deal on Thursday for a $151 million (Sh 15.4 billion) loan from the African Development Bank (AfDB).

The 40-year loan will partly finance a new 23 km, 4-lane toll road to help de-congest traffic on an existing road, the finance ministry and AfDB said, adding the government would fund the remainder of the $192 million (Sh19.6 billion) project.

In recent years East African countries have been investing heavily in transportation infrastructure to help boost trade. A significant chunk of that investment has been directed toward upgrading sections of what is known as East Africa’s northern corridor, a transport artery that loops in Uganda, Rwanda, Burundi and eastern Democratic Republic of Congo, stretching eastward to the Kenyan sea port of Mombasa.

Share this story
33 set for top varsities in Equity Bank initiative
Some 33 scholars in the 2016 class of the Equity Leaders Programme (ELP) have received admissions to study in top global universities.
Absa Bank net profit for 3 months up 24pc
The performance was mainly driven by growth in interest income, particularly in the small and medium enterprises.
.
RECOMMENDED NEWS
Feedback