Moses Ssebugwawo

Together with the Chief Executive Officer of Standard Chartered Bank Uganda, Sanjay Rughani have today signed €110.5 Million (UGX 481 billion) financing agreement for the Kitgum-Kidepo Road project. In my remarks i said this financing package demonstrates the shared commitment to improving connectivity and unlocking the economic potential of Northern Uganda and the Karamoja sub-region. I also noted that the 115.8-kilometre Kitgum–Kidepo Road will improve connectivity, reduce transport costs and strengthen regional trade,adding that it will support the implementation of the ATMS. The road will also support major investments in the region including; the Yaobai Cement and Clinker Factory, an investment of over USD 300 million in Moroto, in addition to improving access to Kidepo Valley National Park and complementing the development of the USD 72 million Kidepo International Airport. I also stated that this road will strengthen tourism, trade and investment in Karamoja and Northern Uganda. Today’s signing is not simply about financing a road. It is about investing in Uganda’s future. It is about connecting farmers to markets, industries to raw materials, tourists to destinations and businesses to opportunity. Together with our partners, we are laying another foundation for a more productive, competitive and prosperous Uganda. The Signing ceremony was witnessed by the Minister of Works and Transport, Fred Byamukama, Minister of Trade and Industry and Cooperatives, Sanjay Tanna, Tourism Minister,Tom Butime and British High Commissioner to Uganda, Lisa Chesney among other officials.