Uganda received 800 million dollars from the Islamic Development Bank for major projects across the country. Officials signed the deal during bank meetings held in Algeria last week. The money will help build roads, hospitals, and power lines between 2025 and 2027. Bank leaders want to support climate projects and job training programs for young people. Treasury Secretary Ramathan Ggoobi attended the ceremony and signed papers for his government.
The bank will give Uganda 500 million dollars directly for development work. Two other Islamic finance groups will add 150 million dollars each to the total package. Insurance companies also promised 400 million dollars to protect the investments from risks. Uganda plans to spend the funds on railway construction linking Kampala to Kenya. Hospital projects in Arua and Mbale will receive money for cancer treatment centers.
Road builders will fix highways connecting towns near the Tanzanian border using bank loans. Water projects will bring clean drinking water to rural villages across the nation. The Islamic bank approved over one billion dollars for member countries during the same week. Uganda expects the money to create thousands of jobs and improve living conditions for poor families.
The bank will give Uganda 500 million dollars directly for development work. Two other Islamic finance groups will add 150 million dollars each to the total package. Insurance companies also promised 400 million dollars to protect the investments from risks. Uganda plans to spend the funds on railway construction linking Kampala to Kenya. Hospital projects in Arua and Mbale will receive money for cancer treatment centers.
Road builders will fix highways connecting towns near the Tanzanian border using bank loans. Water projects will bring clean drinking water to rural villages across the nation. The Islamic bank approved over one billion dollars for member countries during the same week. Uganda expects the money to create thousands of jobs and improve living conditions for poor families.
