The Government of Uganda has successfully secured a €270 million loan facility from the African Export-Import Bank (Afrexim Bank), marking a significant milestone in towards sustainable development and economic transformation.
The Minister of Finance, Matia Kasaija said the 10-year term loan will support priority development and infrastructure projects outlined in the 2024/25 national budget.
The financing is dedicated to bolstering investments in key sectors such as infrastructure and human capital development, both of which are central to Uganda’s long-term growth strategy.
The resources will be channelled towards critical initiatives including agricultural value addition, support for the oil and gas industry, energy generation and distribution, the expansion of special export processing zones and industrial parks, and the construction and rehabilitation of vital transport networks, roads, railways, and ports.
The support from Afrexim Bank is a powerful testament to the growing capacity of African financial institutions to drive the continent’s development agenda.
It highlights the Bank’s commitment to providing innovative financing solutions tailored to the unique needs of its member countries.
For Uganda, this partnership represents more than financial support, it is a clear vote of confidence in our economic direction and governance.
Uganda was also chosen to host Afrexim Bank’s East African Regional Office, currently under construction along Yusuf Lule Road in Kampala’s central business district.
This regional hub will house the Afrexim Bank Africa Trade Centre (AATC), which will anchor the Bank’s regional business and strengthen trade-related financing activities in Uganda and the East African region.
The establishment of this office further cements the Bank’s long-term commitment to Uganda and affirms our shared vision for regional integration, trade promotion, and sustainable development across Africa.
