A view of the exterior building of the Islamic Development Bank Group in Jeddah, Saudi Arabia
May 22 – Uganda has signed a $800 million financing agreement with the Islamic Development Bank to support projects, including a planned railway, to boost the country’s trade.
The railway will connect to neighbouring Kenya’s Standard Gauge Railway and on to the Indian Ocean port of Mombasa.
Other projects to be financed under the three-year deal will be in sectors such as health, transport and energy infrastructure.
The agreement was signed by the Permanent Secretary Ministry of Finance and Economic Planning, Ramathan Ggoobi, for the Uganda government and the bank’s Vice President Rami Ahmed at the Saudi Arabia-headquartered development bank’s annual meeting in Algiers, the ministry said its X platform.
