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Uganda Submits Funding Plan to Build Roads in Eastern Congo

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By BLOOMBERG

Uganda plans to spend 200 billion shillings ($53.6 million) on three roads in mineral-rich eastern Democratic Republic of Congo, following a pact to improve business between the two neighbors.

The Finance Ministry submitted the funding proposal to parliament, Kenneth Mugambe, the ministry’s budget director, said Tuesday, without giving details on how the money would be raised.

Uganda’s cabinet last month approved the plan to build the roads, which total 223 kilometers (139 miles). Many roads in eastern Congo are in a state of disrepair following a series of armed conflicts in recent years. Trade with Congo accounted for $162 million in 2019, according to Bloomberg data.

—— AUTO – GENERATED; Published (Halifax Canada Time AST) on: October 21, 2020 at 09:45AM

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