The World Bank has announced resumption of more than Shs5 trillion ($1.5bn) in new lending to government after almost ten months of suspending loans to Uganda and several back and forth meetings over the issue.
The World Bank says Uganda’s economy must grow by 12% each year until 2020 if it is to achieve its goal of middle-income status by that time. But that is twice the growth rate it considers realistic for Uganda’s GDP in the medium-term
The World Bank on Tuesday released its eighth Uganda Economic Update outlining its view of the state of the economy, more than six months after it cut off funding over slow execution of projects. Here are 10 key messages from the report.
Parliament on Wednesday approved two motions that allow the government to borrow $102.88 million for rural electrification projects. The government will borrow $91.5 million from the World Bank and $11.32 million from Kuwait.
Uganda has moved up seven places in the World Bank’s latest Doing Business Report, coming in at 115 out of 188 economies. The report investigates regulations that improve or constrain the operations of small to medium-size domestic businesses.