South Korea Lend-Uganda 1.9 Trillion shs – For Road Construction.

The governments of Uganda and South Korea have signed an agreement under which South Korea will lend Uganda US$500 million, in 1 trillion and 902 billion shillings, for the construction of roads and other mutually beneficial projects.

The agreement was signed in Seoul, South Korea, during the South Korea -African Summit.
The South Korean president hosted African leaders for the first time.

Ugandan Finance Minister Matia Kasaija signed the agreement on behalf of the Ugandan government, while South Korean Foreign Minister Cho-Tae -Yull signed on behalf of the South Korean government

The 1.902 trillion will be deposited in Korea Exim Bank in tranches from 2024 to
The Korean Economic Development Cooperation will drive the loan.