Uganda’s Finance Minister, Matia Kasaija, and State Minister for Foreign Affairs, Okello Oryem, convened with a delegation from the High Commission of India in Uganda, headed by Mr. Dammu Ravi, Secretary (Economic Relations) of India’s Ministry of External Affairs.
During the meeting, Minister Kasaija commended the strong bilateral relations between India and Uganda, highlighting the opportunities available for Indian investors in Uganda’s growing economy. He extended an invitation for Indian investors to explore and capitalize on these opportunities.
A significant aspect of the discussion revolved around the available lines of credit amounting to USD 205.5 million extended to Uganda by the Government of India. These funds are earmarked for various development projects, with particular focus on key sectors such as Energy and Mineral Development, Agriculture, and Information and Communication Technology (ICT).
Minister Kasaija emphasized that Uganda is expected to present viable projects, especially from the aforementioned ministries, to access these lines of credit. He highlighted the grant window accompanying the lines of credit, allowing Uganda to secure grant funding for feasibility studies of priority projects. Notably, all projects must undergo thorough study before approval.
The priorities for utilizing these lines of credit include grid reinforcement and extension, infrastructure development for the agriculture and dairy sectors, as well as the supply and installation of solar-powered water pumping systems. These initiatives align with Uganda’s developmental goals and aim to enhance the country’s economic growth and infrastructure.
