Finance Minister To Lead Negotiations For SGR Loan

By Damali Mukhaye.
Finance minister Matia Kasaija and other government officials are today expected to meet officials from China’s Exim Bank over the loan for construction of the Standard Gauge Railway.
Speaking to KFM, the Project Coordinator Eng. Kasingye Kyamugambi says if the discussions are fruitful, Uganda will get an advance of Shs USD 2.8billion (Shs8trillion) to finance the construction of the Malaba- Kampala stretch.

He adds that the government has already acquired 60% of the land needed for the construction and if this money is acquired, construction will kick off immediately.
After the Malaba –Kampala stretch, Uganda will embark on the western route from Kampala to Ntungamo near the border with Rwanda and northern route from Tororo to Packwach near the border with South Sudan.

The whole project is expected to cost Shs.46trillion.