Home Editor Picks Gov’t Wants to Borrow More 1 Trillion to Fight Coronavirus

Gov’t Wants to Borrow More 1 Trillion to Fight Coronavirus

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On Tuesday, the State Minister for Planning David Bahati tabled a request of UGX 1.09 trillion before parliament to help in the fight against Covid-19

Bahati told parliament that the money will be borrowed from the World Bank and the IMF.

According to the request laid out by the Minister, UGX89b will go to the Ministry of Health for buying testing kits, procurement of facemasks and buying of mobile tents and lavatories in preparation for school opening and surveillance in border districts.

The Minister said 5Ob will go to the Microfinance Support Centre Limited to support small enterprises through the Savings and Credits Cooperative Society (SACCOs), while 223b will go towards payment of local service providers such as tea seedling suppliers, water and power.

Shs 455.1b will be awarded to the Uganda Development Bank (UDB) to support the manufacturing sector that might be adversely affected by the Covid-19 pandemic

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