The World Bank has announced the resumption of more than Shs5 trillion ($1.5bn) in new lending to the government of Uganda. Last Tuesday, the bank wrote to Keith Muhakanizi, the secretary to the treasury, communicating its decision to fund key road projects.
The roads are the 100km Kyenjojo-Kabwoya road under the Albertine Region Sustainable Development Project (ARSDP), and the 340km Tororo-Mbale-Soroti-Lira-Kamdini stretch under the North Eastern Road-Corridor Asset Management Project (NERAMP).
The Bank in a statement dated May 19 said it recognizes the progress made by the government in addressing the issues that were impacting the overall performance of the Bank-supported portfolio, including project implementation and proactive safeguards compliance.
“We are continuing to work closely with the government of Uganda to ensure that these efforts are sustained, and have communicated to the Ugandan authorities the resumption of our International Development Association (IDA) lending program,” the statement reads in part.
The statement adds that: “We fully expect the government of Uganda to continue to improve implementation performance to realize the development impact of the portfolio and provide a strong platform for the reinstated lending program.”