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World Bank and Uganda together in $14 million infrastructure projects

Staff writer |
The World Bank and the Ugandan government have signed an agreement on a $145-million loan to support a range of infrastructure projects in the oil-rich Lake Albert Rift Basin as the country nears commercial crude production, officials said.

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The project will finance various projects including a 100-km (62-mile) road, as well as skills development for hundreds of students at the state-run Uganda Petroleum Institute in the Lake Albert region, the World Bank Uganda country office said in a statement.

The project will also improve overall accessibility to and within the region.

The country has so far discovered up to 6.5 billion barrels of oil in the Lake Albert Basin and production is expected to start in early 2018.

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