Uganda will get a $120 million loan from the World Bank to improve and expand electricity supplies in the southwest of the country, the lender said.
The loan, which will be provided through the bank’s International Development Association, has an interest rate of 0.75 percent, a maturity period of 40 years and a grace period of 10 years, the Washington-based lender said in an e-mailed statement today.
The credit will finance the construction of a 137-kilometer (85-mile) transmission line and “community support projects,” the lender said. The World Bank has invested $319 million in four separate projects in the East African country to date, according to the statement.
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