Govt to borrow Shs1.3tn to refurbish Kampala-Malaba meter gauge railway
By Damali Mukhaye
Parliament has adopted the proposal by the government to borrow Shs1.3trillion from various banks for the refurbishment of the Kampala-Malaba meter gauge railway.
While presenting the request before parliament today, the State finance minister in charge of planning, David Bahati said the money will be borrowed from the African Development Fund, the African Development Bank, and the Corporate Internalization Fund of Spain.
Meanwhile, some MPs have complained about the government borrowing such a huge sum of money to simply renovate the meter-gauge railway.
Busia MP Godfrey Macho says this is moving the country backward because other countries are moving towards constructing a modern Standard Gauge Railway.
The Speaker of Parliament, Rebecca Kadaga has pushed the request to the natural resources committee for handling.
