Ugandan government on Wednesday signed a $800 million financing agreement with the Islamic Development Bank.
Uganda’s interior ministry said the agreement is to support projects, including a planned railway, that aim to boost the landlocked East African country’s trade.
According to the ministry, 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 Ramathan Ggoobi, the finance ministry’s most senior technocrat, and the bank’s Vice President Rami Ahmed at the Saudi Arabia-headquartered development bank’s annual meeting in Algiers, the ministry said on X late on Wednesday.
