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Transactions - FEBRUARY 7, 2024

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OPEC Fund provides $30 million loan to improve rural transportation in Uganda

by Kali Persall

The OPEC Fund for International Development is extending a $30 million loan to rehabilitate the Katine-Ochero road, a key transportation link in Uganda.

Located in the central-eastern region of Uganda in the Soroti district, the 70-kilometer (43-mile) road will be upgraded from gravel to a paved road, which will allow for faster and safer travel, offering local rural communities improved travel connections.

The rehabilitation of the Katine-Ochero road will provide better, faster and safer transport connections in the central-east region of the country. The project is co-financed by the Islamic Development Bank (IsDB) and the government of Uganda.

“Reliable infrastructure is a precondition for complex supply chains and the ability to move goods and services across borders,” said Abdulhamid Alkhalifa, OPEC fund director-general. “This improves socioeconomic opportunities, especially for rural communities. We are pleased to upgrade this vital connectivity lin

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