Uganda: Government releases funds for hydro schemes
Issue 284
- 12 Sep 2014
| 1 minute read
The government has approved the disbursement of UGSh955bn ($366m) from the state budget to finance construction of the 600MW Karuma and 183MW Isimba hydropower projects, according to a report in the local daily New Vision on 8 September. The release of funds was approved at a cabinet meeting chaired by President Yoweri Museveni in late August, following a report on the progress of the two projects by vice-president Edward Ssekandi, the report said. It quoted an unnamed government source as saying that the government decided to release the funds to avoid interruption of the works at the two sites on the Victoria Nile, which, contrary to reports, was on track.
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