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Tag Archives: Loan

MPs press gov’t for details on Shs1.7 trillion loan disbursement plans

Kampala, Uganda | THE INDEPENDENT | Parliament’s Committee on National Economy has asked Finance State Minister, Henry Musasizi for details on the actual intended disbursements of the loan before they can give their nod of approval. Shadow Finance Minister, Muhammad Kivumbi objected asking for details of the disbursement, a request he said …

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MPs approve Shs266 billion loan for heart institute

Kampala, Uganda | THE INDEPENDENT | Parliament has approved a US$70 million loan for the construction of a state of the art facility to house the Uganda Heart institute. A loan request brought by government to collectively borrow US$70 million from the Arab Bank for Economic Development in Africa, Saudi Fund …

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Boda boda rider commits suicide over UGX 250,000 loan

Kampala, Uganda | THE INDEPENDENT | A boda-boda rider in Namugongo has committed suicide over his inability to pay 255,000 Shillings as part of his motorcycle loan. Neighbors on Tuesday morning found the lifeless body of Alex Nuwagaba, 33, outside his rental house in Namugongo within Kira municipality. One of the …

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Delayed release of World Bank funds affects Kabarole projects

Kampala, Uganda | THE INDEPENDENT | The National Economy Committee which is monitoring the performance of a US$150 million World Bank loan under the Agricultural Cluster Development Project (ACDP) has discovered that  Kabarole district has not received funding for most of its investment projects. Legislators doubtful of the intention of the Ministry …

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No impact from US$150m World Bank loan for agriculture – MPs

Kampala, Uganda | THE INDEPENDENT | Legislators on the Committee on National Economy have slammed the Ministry of Agriculture, Animal Industry and Fisheries for poorly utilising the US$150m loan borrowed to boost productivity and market for maize, rice, coffee, and beans in selected districts. The six-year loan, implemented with support from the …

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Bank fraud: Shs2.7bn loan fraudsters named, expert warns

Kampala, Uganda | THE INDEPENDENT | On Jan.10, a local daily newspaper reported an incident in which a top bank in Uganda was conned Shs2.7bn in bogus loan scheme leading to some suspects getting arrested by the police. Gurijindeer Singh, who hails from Kolkata, the capital of India’s West Bengal state …

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ANT demands repayment plan for Entebbe Airport loan

Kampala, Uganda | THE INDEPENDENT | The Alliance for National Transformation-ANT party has asked the government to table before Parliament, a repayment plan for the Entebbe Airport loan. In 2015, the government represented by the finance ministry and the Civil Aviation Authority-CAA, signed an agreement with China Exim Bank to borrow …

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