KAMPALA – The World Bank said on Wednesday it had approved $100 million worth of credit for Uganda to help boost its economic growth and jobs, relieving fiscal pressure on the east African country squeezed by last year’s aid cuts.
World Bank
In a statement, the bank said the credit line would finance the Competitiveness and Enterprise Development Project (CEDP)that would implement reforms in land administration and business registration and create about 75,000 jobs.
Uganda’s finance ministry said last month it expects Uganda’s direct budget support to drop by 93 percent in the next financial year after western donors cut their largess to protest corruption in public offices.
Agencies
