Opec Fund extends $30m loan to Uganda to upgrade rural road

9th February 2024 By: Schalk Burger - Creamer Media Senior Deputy Editor

The Organisation of the Petroleum Exporting Countries (Opec) Fund for International Development is extending a $30-million loan to support the development of a key transportation link in Uganda.

The project is co-financed by the Islamic Development Bank and the government of Uganda.

The Katine-Ochero road is located in the central-eastern region of Uganda in the Soroti district.

The 70 km road will be upgraded from gravel to a paved road, which will allow for faster and safer travel, offering local rural communities improved travel connections. The development will also benefit local small businesses by providing access to marketplaces and shops.

“Reliable infrastructure is a precondition for complex supply chains and the ability to move goods and services across borders. This improves socioeconomic opportunities, especially for rural communities.

“We are pleased to upgrade this vital connectivity link and look forward to further expanding our long-standing cooperation with Uganda,” said Opec Fund director-general Abdulhamid Alkhalifa.

To date, the Opec Fund has provided about $290-million to support sustainable development in Uganda, financing more than 20 projects in education, health, transportation, agriculture and energy.