Parliament approves Shs1.24 trillion electricity loan
Parliament has approved a loan request of Shs1.241 trillion from the government for electricity expansion across the country.
This after the Ministry of Finance asked Parliament to allow government borrow up to Special Drawing Rights (SDR) 237.7 million ($331.5 million equivalent) and receive a grant of up to SDR 198.2 million (equivalent to $276.5 million) from World Bank Group to support the Electricity Access Scale-Up Project (EASP).
Busiro East MP, Medard Sseggona who represented the Leader of Opposition, Mathias Mpuuga welcomed the loan that will be paid back in 38 years noting that the project will benefit many Ugandans.
State Minister for Planning, Amos Lugoloobi says the project seeks to increase access to electricity from 24 percent to 44 percent and increase the number of connections made annually from 70,000 to 300,000 connections by 2027.
