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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

African Development Bank to Fund $109 Million Uganda Road Works

Thursday, July 31, 2014 > 09:14:24
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(Bloomberg)

The African Development Bank will help finance the $109 million reconstruction of two Ugandan roads to boost trade with eastern Democratic Republic of Congo and Kenya.

The Ugandan government will pay for 10 percent of the cost of the upgrade while the Tunis, Tunisia-based lender’s loan caters for the balance, Dan Alinange, a spokesman for the Kampala-based Uganda National Roads Authority, said today in an e-mailed response to questions.

The 112-kilometer (70-mile) Rukungiri-Kihihi-Ishaka-Kanungu road connects to Congo on the country’s western border while the Bumbobi-Lwakhakha links to Kenya in the east. The two roads will boost tourism and border trade, according to the lender’s website.

“The final cost will be determined after the bidding process is completed,” he said.

The total cost for the project will be worked out after the final tender, and it could be more or less than the $109 million loan that the lender approved for the roads last month, Alinange said in a separate e-mail. The bank’s figure includes costs for supervision of the works, he said.

Construction of the two roads will start in June 2015 and works will take 36 months “due to the terrain in both areas,” Alinange said.


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