Africa Banking Coronavirus Debt Development Finance Uganda

Trade & development bank arranges US$328M for Uganda

The Eastern & Southern African Trade & Development Bank arranged a 300 million euro ($328 million) loan for the Ugandan government to help support its economy during the coronavirus pandemic.

The seven-year syndicated facility will help finance the development and infrastructure needs of Africa’s top coffee exporter, TDB said in a statement on its website. The country currently has 53 confirmed cases of the virus.
Lawmakers in the East African nation this week approved a 284 billion shilling ($75 million) supplementary budget for the 2019-20 fiscal year to combat the coronavirus pandemic.

Source: Bloomberg

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