Uganda has secured €110.5 million (approximately UGX 481 billion) in financing for the Kitgum–Kidepo Road project, marking a significant step toward improving transport infrastructure in Northern Uganda and the Karamoja sub-region.

The financing agreement was signed on Wednesday by Finance Minister Henry Musasizi and Standard Chartered Bank Uganda Chief Executive Officer Sanjay Rughani.

Speaking at the signing ceremony, Musasizi said the financing package reflects a shared commitment to enhancing connectivity and unlocking economic opportunities in Northern Uganda and Karamoja.

The minister noted that the 115.8-kilometre Kitgum–Kidepo Road will improve connectivity, lower transport costs, and strengthen regional trade. He added that the project will also support the implementation of the ATMS.

According to Musasizi, the road will facilitate major investments in the region, including the Yaobai Cement and Clinker Factory in Moroto, a project valued at more than USD 300 million. The road is also expected to improve access to Kidepo Valley National Park and complement the development of the USD 72 million Kidepo International Airport.

He said the project will help strengthen tourism, trade, and investment across 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,” Musasizi said.

Rughani described the project as a strategic investment and said the agreement demonstrates Standard Chartered Bank Uganda’s continued support for government priorities that are both economically viable and developmentally impactful.

“The Kitgum–Kidepo Road is a strategic investment that reinforces our long-term role as a trusted Corporate and Investment Bank,” he said.

The signing ceremony was witnessed by Minister of Works and Transport Fred Byamukama, Minister of Trade, Industry and Cooperatives Sanjay Tanna, Tourism Minister Tom Butime, British High Commissioner to Uganda Lisa Chesney, and other government officials.