Shs1.1 Trillion Loan for Airport Expansion in Uganda| glObserver Global Economics

Parliament has okayed governments’s request to borrow $325m (about Shs1.1 trillion) from China’s Exim Bank for the upgrade of Entebbe Airport. Parliament yesterday approved a initial tranche of $200m to cover phase I of the project on the promise that the balance of $125m would come in 2018/19 financial year for phase II.

Sourced through from:

"Due to Uganda’s over reliance on the traditional sea routes of Mombasa and Dar es Salaam for international trade, air transport provides a mitigation measure for unforeseen economic and social international trade shocks that could arise from the existing traditional routes," Mr Kyooma said.

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Author: globserver

Director of Eyecom china

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