World Banks gives nod to Museveni projects as President calls for more trade access with the US

Thursday 22nd May 2014

President Yoweri Museveni has said that what the Africa continent needs is more trade access of at least 15 years to US markets, unlike the AGOA agreements which are renewable in a short time, saying this will give investors more confidence and assurances of investing on the continent.

He said the priority for Uganda now is infrastructure development, including power, roads and railway.

The President was today meeting the World Bank Vice President for Africa Makhtar Diop at his residency at the Serena Hotel in Kigali.

Mr. Diop was happy to note that most of the projects that President Museveni has been lobbying for have been approved for funding including a US40million livelihood project, US$122 million for a regional pastoralism project to improve the livelihoods of pastoralists in the Horn of Africa and strengthen the capacity of the Inter-Governmental Authority on Development (IGAD).

The Republic of Kenya will receive US$77 million, Republic of Uganda US$40 million and US$5 million for IGAD.

The Project will directly benefit 135,000 households (93,000 in Kenya and 42,000 in Uganda) and more than 280,000 households if indirect beneficiaries are considered whose livelihoods depend on pastoral activities.

The World Bank also approved US$175million for the Second Kampala Institutional and Infrastructure Development Project (KIIDP-2) for Uganda seek to enhance infrastructure and institutional capacity of Kampala Capital City Authority (KCCA) to improve urban mobility for inclusive economic growth.

Mr. Diop said the bank has also approved funding of up to US$245million for infrastructure development in the Albertine Region.

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