Finance Minister @henrymusasizi1 and Chief Executive Officer of Standard Chartered Bank Uganda, Sanjay Rughani today signed a €110.5 million (UGX 481 billion) financing agreement for the construction of the 115.8-kilometre Kitgum–Kidepo Road. The project is expected to improve transport, strengthen regional connectivity and unlock new economic opportunities in Northern Uganda and the Karamoja sub-region.
Speaking during the signing ceremony, Finance Minister Henry Musasizi said the financing package demonstrates a shared commitment to improving infrastructure and supporting economic growth. He noted that the road will reduce transport costs, improve the movement of goods and people, and support the implementation of key government development programmes.
Musasizi explained that the road will also support major investments in the region, including the Yaobai Cement and Clinker Factory in Moroto, a project worth more than USD 300 million. Better road access is expected to make it easier for industries to transport raw materials and finished products, boosting business activities and job creation.
The project is also expected to strengthen Uganda’s tourism sector by improving access to Kidepo Valley National Park, one of the country’s most famous tourist destinations. The road will complement the planned USD 72 million Kidepo International Airport and help attract more visitors to the region.
Musasizi described the agreement as an investment in Uganda’s future, saying it will connect farmers to markets, businesses to opportunities, industries to resources and tourists to destinations. He added that the project will contribute to building a more productive, competitive and prosperous economy.
Standard Chartered Bank Uganda CEO Sanjay Rughani said the road is a strategic investment that reflects the bank’s commitment to supporting government priorities that deliver both economic and developmental benefits. The signing ceremony was witnessed by Works Minister Fred Byamukama, Tourism Minister Tom Butime, Trade Minister Sanjay Tanna and Lisa Chesney, among other officials.
