Uganda Seeks $2.1B Infrastructure Loans

Uganda is seeking Shs 8.2 trillion (about $2.1 billion) in new loans from the World Bank, Citibank, and Standard Chartered Bank to fund infrastructure and social projects, including oil roads in Ntoroko, Jinja City roads, power transmission lines, agricultural modernization, and refugee resettlement. The government is also negotiating a new Extended Credit Facility with the IMF to manage rising public debt, which reached $29.1 billion, or 52.1% of GDP, at the end of 2024.