Uganda`s Ministry of Finance, Planning and Economic Development has signed a US$ 100 million line of credit with the World Bank to fund the Private Sector Competiveness and Enterprise Development project. The 5 year project will improve the competitiveness of enterprises in Uganda by supporting the implementation of business environment reforms including land administration as well as the development of priority productive and service sectors.
Speaking at the signing of the agreement on Friday 31st January 2014 Finance Minister Maria Kiwanuka said the loan will go to the critical areas of private sector development in line with the government’s national development plan for economic transformation and poverty reduction.
“This support from the world bank will improve the business environment and the competitiveness of selected high infrastructure clusters in Uganda in line with our recognition of the private sector as the engine for economic growth in the country. The priority sectors include tourism, business process outsourcing as well as agricultural productivity all of which were identified under the competitiveness and investment climate strategy launched by the president in 2011,
