Cabinet has approved a proposal to borrow 99.8million USD, approximately 38.4 billion shillings from the International Development Association- (IDA) of the World Bank.
According to a statement signed by the government spokesperson Ofwono Opondo on Tuesday, the loan will finance the Enterprise Development Project (CEDP-AF).
The project development objective is to support measures that facilitate increased private investment in the Tourism sector and strengthen the effectiveness of the Land Administration System.
According to the CEDP AF Procurement Plan disclosed on the World Bank Website in August 2019, there is a proposal to construct the Uganda business facility Center which would have components like business registration and business lending reforms. This was estimated to cost 18.5 million USD (approximately Shillings 69 billion).
The procurement plan authored by the Private Sector Foundation Uganda CEDP-AF Project Coordinator John Marie Kyewalabye also proposed construction of Hotel facilities for the Uganda Hotel and Tourism Training Institute (UHTTI) in Jinja. This was estimated at USD 5 million (Approximately Shillings 19 billion).
Also proposed was the purchase of five units of 52- seater domestic tour buses whose supply and delivery was estimated to cost USD 1.04 million (Approximately Shillings 4 billion).
In April 2018, the government started the reconstruction of the Uganda Hotel Tourism and Training Institute (UHTTI) also known as the Crested Crane Hotel in Jinja to skill the tourism sector’s labor force to meet world-class standards.
The construction by estimated at Shillings 24.5 billion was financed by the World Bank.
The Tourism sector accounts for over 10% of Uganda’s GDP.