The Government of Uganda has secured a €270 million (about Shs1.1 trillion) loan from the African Export-Import Bank (Afreximbank) to finance development and infrastructure projects in the 2024/25 financial year.
The 10-year facility will fund investments in infrastructure and human capital to support sustainable growth and socio-economic transformation. Funds will go into projects such as value addition to agriculture, support to the oil and gas sector, energy generation and transmission, industrial parks, export zones, and road, rail and port infrastructure.
Finance Minister Matia Kasaija said the loan shows Afreximbank’s confidence in Uganda’s economic direction. “This financing demonstrates the Bank’s relevance to Uganda and the African continent, and its confidence in delivering tailored solutions to member countries,” he said.
He added that Afreximbank has chosen Uganda to host its East African Regional Office, now under construction in Kampala’s central business district along Yusuf Lule Road. The office will house the Afreximbank Africa Trade Centre to coordinate the Bank’s business in the region.
Kasaija said the move highlights Afreximbank’s trust in Uganda’s government and its commitment to promoting trade and development across Africa.
