Kampala City, Uganda: The Government of Uganda has secured €110.5 million (approximately Shs481 billion) in financing for the construction of the 115.8-kilometre Kitgum–Kidepo Road, a major infrastructure project expected to improve connectivity, tourism and trade in Northern Uganda and the Karamoja sub-region.
The financing agreement was signed on Tuesday, June 30, by Finance Minister Henry Musasizi and Standard Chartered Bank Uganda Chief Executive Officer Sanjay Rughani.
Speaking during the signing ceremony, Musasizi said the financing package reflects a shared commitment to improving transport infrastructure and unlocking the economic potential of Northern Uganda and Karamoja.
He said the Kitgum–Kidepo Road will reduce transport costs, improve regional connectivity and strengthen cross-border trade while supporting the implementation of the African Continental Free Trade Area’s African Trade Master System (ATMS).
Musasizi added that the road will facilitate access to key investments in the region, including the over US$300 million Yaobai Cement and Clinker Factory in Moroto. The project will also improve access to Kidepo Valley National Park and complement the ongoing development of the US$72 million Kidepo International Airport.
“This road will strengthen tourism, trade and investment in Karamoja and Northern Uganda,” Musasizi said.
“Today’s signing is not simply about financing a road. It is about investing in Uganda’s future. It is about connecting farmers to markets, industries to raw materials, tourists to destinations and businesses to opportunity. Together with our partners, we are laying another foundation for a more productive, competitive and prosperous Uganda.”
Standard Chartered Bank Uganda CEO Sanjay Rughani said the agreement demonstrates the bank’s continued commitment to supporting government projects that deliver long-term economic and social benefits.
“The Kitgum–Kidepo Road is a strategic investment that reinforces our long-term role as a trusted Corporate and Investment Bank,” Rughani said.
The signing ceremony was witnessed by the Minister of Works and Transport, Fred Byamukama, the Minister of Trade, Industry and Cooperatives, Sanjay Tanna, the Minister of Tourism, Wildlife and Antiquities, Tom Butime, British High Commissioner to Uganda Lisa Chesney, and other senior government officials.
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