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Uganda secures $1.5 billion loan against $1.8 billion debt deficit

After several years of impressive work, the World Bank has rewarded East African state Uganda for its hard work in making steps to better its economy. The World Bank has finally decided to step into the act of resuming more than Shs5 trillion in the new lending to government.

This is an open door to the sub-Saharan state after close to ten months of suspending loans to Uganda among other several uneventful, twist and turn meeting over the matter.

The Bank in a statement dated May 19 said, it recognises the progress made by government in addressing the issues that were impacting the overall performance of the Bank-supported portfolio, including project implementation, and proactive safeguards compliance.

 

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