Uganda Gets $1.97 Billion World Bank Development Plan Loan, Vision Reports

The World Bank’s International Development Association will lend Uganda $1.97 billion to support the East African nation’s five-year National Development Plan that runs until 2015, New Vision reported.

The aid will boost the country’s 54 trillion-Ugandan- shilling ($24 billion) program that aims to transform Uganda from a peasant society into a middle-income nation by 2015, the Kampala-based newspaper said, citing a World Bank statement.

To contact the reporter on this story: Fred Ojambo in Kampala via Johannesburg at pmrichardson@bloomberg.net.

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