AfDB agrees loan for Uganda transport project
16 April 2010
The African Development Bank (AfDB) has announced it signed loan agreements for Uganda's third Road Sector Support Project and the Rural Income and Employment Enhancement Project.
According to yesterday's (April 15th) reports, Patrick Khaemba, AfDB resident representative, signed the agreement with finance minister Syda Bbumba on April 12th.
Ms Bbumba said: "The Bank has become a reliable partner in Uganda's development."
According to the AfDB, the goal of the Road Sector Support Project is to improve sustainable road access to all rural and urban parts of Uganda.
Transport costs and travel time between Kabale and Kisoro will be reduced, the objectives state and the south-west of Uganda will become more accessible via the road projects, it was noted.
Ms Bbumba hoped the project will reduce poverty in the country, through allowing the rural population access to economic activity by improving the condition of the regional roads.
She added it should contribute to an initiative aimed at improving household incomes and productivity in Uganda.