AFDB to fiance $1.55billion Kampala- Jinja express project in Uganda
Kampala, November 14, 2018 (AltAfrica)-Uganda and the African Development Bank have reached an agreement over the construction and finance of phase one of Kampala- Jinja express project.
Under the agreement, Uganda will receive a whooping sum of $229.5m following an approval from the board of African Development Bank who have agreed to finance the project
The Uganda National Roads Authority confirmed the reports and said the expressway, which forms part of the northern trade corridor from Mombasa in Kenya to Kigali in Rwanda, will reinforce Uganda’s position as a regional transit hub, supporting its ambition to propel its economy into middle-income status by 2020.
Uganda’s second national development plan
In a report, the AfDB stated that the financing will support Uganda’s second national development plan 2015-2020 which aims to strengthen the country’s competitiveness for sustainable wealth creation, inclusive growth and jobs creation.
It’s also aims at facilitating efficient movement of passengers and freight across the country to support growth objectives.
The proposed 95-kilometre Kampala Jinja Expressway (KJE), was designed to an expressway standard, in line with the Vision 2040 and National Development Plan II as critical for the economic development of Uganda.
Total project cost is estimated at US $1.55bn with financing from sovereign and non- sovereign facilities.
Over 2,000 direct and indirect jobs will be created during the construction and operational phases of the project.
Uganda’s road network is the country’s predominant mode of transport and a key enabler of her trade and economic activities within the East African Community. T
The Kampala-Jinja corridor has experienced accelerated development over the last 20 years, and currently experiencing traffic overload, registering over 1,000 vehicles per hour per lane, with consistent breakdown of traffic flows, according to a 2017 study conducted by the Uganda National Roads Authority.