Business
Uganda Secures Significant Financial Aid from China and Japan for Infrastructure Development
In a significant boost to Uganda’s infrastructure development, Finance Minister Matia Kasaija today signed two crucial agreements with international partners.
Firstly, a grant agreement worth approximately Shs. 101.3 billion was signed with Chinese Ambassador Zhang Lizhong, aimed at strengthening economic and technical cooperation between Uganda and China. These funds will support Uganda’s National Development Goals and the Sustainable Development Goals.
Secondly, Minister Kasaija, along with Japanese Ambassador to Uganda H.E. Sasayama Takuya and JICA’s Chief Representative Mr. Inoue Yoichi, signed an Exchange of Notes and a Grant agreement worth 4.939 billion Japanese Yen (approximately UGX 121 billion) for the reconstruction of the Karuma bridge.
The Karuma Bridge project will result in a modern, elevated bridge designed to enhance safety, improve traffic flow, and strengthen regional connectivity. This new bridge will replace the existing structure, which features sharp curves that have contributed to frequent accidents.
“On behalf of the Government of the Republic of Uganda, I want to extend heartfelt gratitude to the Government of the People’s Republic of China for the long-lasting technical and financial support in various sectors, ranging from transport, energy, and health, among others,” stated Minister Kasaija regarding the Chinese grant. He also requested continued support in agro-industrialization, solar power irrigation, mineral beneficiation, and technology transfer.
Minister Kasaija, along with Japanese Ambassador to Uganda H.E. Sasayama Takuya after signing an agreement for the reconstruction of the Karuma bridge.
Ambassador Zhang Lizhong highlighted that the China agreement stemmed from the Forum on China-Africa Cooperation (FOCAC) 2024, where China pledged to strengthen its strategic partnership with Uganda.
Regarding the Japanese grant, Minister Kasaija thanked the Government of Japan for their long-standing support, particularly acknowledging the recently completed Kampala flyover and road upgrading project, lot 1 and the new bridge across the River Nile in Jinja.
The JICA representative emphasized that the Karuma bridge project underscores the strong partnership between the two governments in advancing Uganda’s infrastructure development for economic growth and regional integration.
Comments
