The Finance Minister has tabled a proposal to borrow 1.7 trillion shillings, (449.8) million dollars to mitigate the effect of the coronavirus pandemic which has slowed down the economy.
The three loan requests were tabled before Parliament by the Minister of State for Planning, David Bahati during Thursday’s plenary sitting.
The USD100 million is to be borrowed from the International Development Agency (IDA) to finance the health sector to mitigate the effects of COVID-19.
On the other hand, Government is also seeking for USD250M for the balance of payment for Bank of Uganda and USD99.8M to finance the competitiveness and Enterprise Development projects.
The Speaker of Parliament, Rebecca Kadaga sent the loan requests to the Parliamentary Committee on the National Economy for scrutiny before a final decision is taken.
