By Silvia Nyambura
Uganda is set to participate in the 4th Annual Africa Infrastructure and Power Forum scheduled to take place in Beijing, China on the 15th and 16th October 2015. The Minister of Finance in charge of privatization Aston Kajara and the senior advisor to the President Maria Kiwanuka will join the conversation on the need to address energy deficits and infrastructural plans for the region.
At the Forum there will be over 11 project presentations featuring major opportunities in energy and infrastructure development, including the East to West Landbridge LAPSSET Corridor and the East African Standard Gauge Railway.
Organized by EnergyNet, the forum partners with the China Africa Development Fund, who will be seeking new projects to receive some of the US$ 5 billion under their management.
China has been the one nation consistently seeking to improve infrastructure and power development on the continent. In 2009, 45.7% of China’s cumulative foreign aid of US$ 256.29 billion had been dispensed to Africa. By 2011, China’s investment in Africa was 4.3% of its global trade (Asia represented 60.9%, Latin America 16% and Europe 11.1%).
Uganda Turns to Citibank After Years of SGR Delays Over FinancingCurrently, Uganda is expecting Chinese state-backed capital to finance the 600 megawatt Karuma and the 188 megawatt Isimba dams. China is also expected to fund the standard gauge railway connecting Kampala to Kenya and South Sudan.
China’s Ex-Im Bank signed an agreement to finance 85% of the estimated US$ 2 billion cost of the Karuma power plant, while Uganda takes care of the remaining 15%. The Bank also agreed to fund the Isimba dam.
