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Uganda plans $2.34 bln borrowing for infrastructure projects - parliament document
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Uganda plans $2.34 bln borrowing for infrastructure projects - parliament document
Oct 20, 2025 1:57 AM

KAMPALA, Oct 20 (Reuters) - Uganda plans to borrow $2.34

billion from several lenders, including the World Bank, Standard

Chartered ( SCBFF ) and Citi, to finance infrastructure projects in energy

and other sectors, according to a parliamentary document seen by

Reuters.

The country's rising public debt has triggered concern among

opposition politicians, analysts and the central bank, which has

warned that high debt servicing costs are diverting resources

from essential social services.

The document, posted on the X platform by parliament late on

Sunday, showed the government intends to source the bulk of the

new borrowing - $1.34 billion - from the World Bank. The

remainder would come from Citi and Standard Chartered ( SCBFF ).

Finance Minister Matia Kasaija is expected to present the

loan request to lawmakers on Monday.

The funds will be used for projects including an electricity

transmission line and roads in the Albertine region, where

Uganda is developing oil fields.

Uganda's total public debt rose 26.2% to $32.3 billion in

the 2024/25 financial year from the previous period, driven by

increased domestic borrowing to meet financing needs, according

to finance ministry data.

In June the World Bank said it would resume funding to

Uganda, nearly two years after the global lender suspended new

financing in response to the country's anti-LGBT law that

imposes penalties including death and life imprisonment.

(Reporting by Elias Biryabarema; Editing by Bate Felix)

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