Ugandan House okays 1.1 trillion loan for airport expansion
PARLIAMENT- Parliament has okayed governments’s request to borrow $325m (about Shs1.1 trillion) from China’s Exim Bank for the upgrade of Entebbe Airport.
Parliament yesterday approved a first tranche of $200m to cover phase I of the project on the promise that the balance of $125m would come in 2018/19 financial year for phase II.
“We must support the loan request to upgrade our airport to make us competitive in the region,” Mr Fox Odoi (West Budama North), said.
The chairman of the Committee on National Economy, Mr Xavier Kyooma, had reminded colleagues that Uganda being a landlocked country, air transport is critical for its economic security and prosperity.
The project will be implemented by Civil Aviation Authority.