10th parliament comes to an end; approve five loans worth Ugx. 4.8 trillion In a few days

- Advertisement -

The speaker of parliament Speaker Rebecca Kadaga chaired the last sitting of the 10th Parliament on Tuesday marking the 44th Sitting of the 3rd Meeting of the 5th Session.
The 10th parliament came to an end with the approval of five loans worth 4.8 trillion shillings in a few days.

- Advertisement -

On Monday, Parliament approved two loans worth Ugx. 2.3 trillion from the AFREXIM Bank and the Trade and Development Bank to finance the Budget for the financial year 2021/2022.

The MP’s also approved a loan request by Government to borrow up two Special Drawing Rights SDR worth Ugx. 97 billion from the International Development Association of the World Bank for COVID-19 response and Uganda Reproductive, Maternal and Child Health Improvement project.
On Tuesday, the Minister of Finance tabled three loan requests worth three trillion which were approved by Parliament.

MPs also approved government’s request to borrow for additional financing of up to of UGX. 894 billion of SDR from the IDA of the World Bank to support the Uganda Inter-Governmental Fiscal Transfers Programme for results.

Parliament also approved loan request by the government to borrow up to a total of UGX. 1.4 trillion from the African Development Fund, African Development Bank, and the corporate Internalization fund of Spain for the refurbishment of the Kampala-Malaba Meter Gauge Railway.

Shilling 112 billion from the African Development Fund to finance Revenue shortfalls has also been approved.

- Advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.