Uganda has secured Shs481 billion (€110.5 million) in financing from Standard Chartered Bank Uganda for the construction of the 115.8-kilometre Kitgum–Kidepo Road, a strategic infrastructure project expected to boost trade, tourism and industrial development in Northern Uganda and the Karamoja sub-region.
The financing agreement was signed on Tuesday by the Minister of Finance, Planning and Economic Development, Henry Musasizi, and Standard Chartered Bank Uganda Chief Executive Officer Sanjay Rughani.
Speaking after the signing ceremony, Musasizi said the financing demonstrates a shared commitment to improving infrastructure and unlocking the economic potential of Northern Uganda and the Karamoja sub-region.
“This financing package demonstrates the shared commitment to improving connectivity and unlocking the economic potential of Northern Uganda and the Karamoja sub-region,” Musasizi said.
He said the road will reduce transport costs, improve connectivity, strengthen regional trade and support the implementation of the African Trade and Market System (ATMS).
According to Musasizi, the project will also support major investments in the region, including the US$300 million Yaobai Cement and Clinker Factory in Moroto, improve access to Kidepo Valley National Park, and complement the planned US$72 million Kidepo International Airport.
He added that the road is expected to stimulate tourism, attract new investments and create wider economic opportunities for communities in Karamoja and Northern Uganda.
“Today’s signing is not simply about financing a road. It is about investing in Uganda’s future. It is about connecting farmers to markets, industries to raw materials, tourists to destinations and businesses to opportunities. Together with our partners, we are laying another foundation for a more productive, competitive and prosperous Uganda,” Musasizi said.
Standard Chartered Bank Uganda Chief Executive Officer Sanjay Rughani said the agreement reflects the bank’s continued commitment to supporting government priorities that deliver both economic and developmental benefits.
“The Kitgum–Kidepo Road is a strategic investment that reinforces our long-term role as a trusted Corporate and Investment Bank,” Rughani said.
The signing ceremony was witnessed by the Minister of Works and Transport, Fred Byamukama, the Minister of Tourism, Wildlife and Antiquities, Tom Butime, the Minister of State for Trade, Sanjay Tanna, the British High Commissioner to Uganda, Lisa Chesney, and other government officials.
Once completed, the Kitgum–Kidepo Road is expected to improve regional connectivity, facilitate cross-border trade, enhance access to tourism destinations and support industrial growth in Northern Uganda and the Karamoja sub-region.
