In an ambitious bid to invest in the roads, rice production, and village infrastructure necessary for future food security in Uganda, Parliament has requested over 70 million dollars from several African, Middle Eastern, and U.S. development banks. This money would go on to fund the Millennium Villages Project and the Masaka-Bukakata road project which will allow for better transportation of goods and supplies further bolstering commerce and economic opportunities.
Broken up into four separate requests which include $44 million from the IDB (Islamic Development Bank), $12 million from the Arab Bank for Economic Development in Africa (ABEDA), and $15 million from the OPEC Fund for International Development, the loans were laid out by the Minister for Finance to Parliament on February 12. Prior to moving forward with the loan requests, Members of Parliament expressed their desire for an official report on the performance of the current loans. Furthermore, the performance report must be presented to Parliament by Christmas as a prerequisite for any additional financing towards food security in Uganda.
If passed, these loans have the potential to increase both rice production and transportation and contribute greatly to overall development and food security in Uganda. Financial investments such as these are always good news, and serve as another step forward in the progressive march towards global food security.
– Brian Turner