UGANDA RECEIVES SH248B WORLD BANK LOAN.

Maria Kiwanuka signing the Ninth Poverty Reduction Support Credit loan with World Bank.

Uganda has received a US$100m (about sh248b) World Bank loan for poverty reduction through enhanced service delivery, less than a week after rigorous Parliamentary consideration. 

The signing of the 9th Poverty Reduction Support Credit (PRSC) loan was effectively delayed till Monday from Friday last week as Parliamentarians reached consensus.

This brings the total loans disbursed under the program to US$1.2b (sh3trillion) since 2001 with one final installment still in the plans.                 

The finance minister said that the PRSC Maria Kiwanuka, says loans have played a vital role in infrastructure development, rural development and capacity building to ensure a strong economic footing.

The loan will be used to improve value for money in core sectors of health, education (Universal Primary Education), water supply and Sanitation and road maintenance.