Uganda secures $500M loan from Korea Exim bank
Finance Minister Matia Kasaija has signed a framework agreement for a $500 million loan from Korea Exim Bank, financing under the Economic Development Cooperation Fund. The Minister was flanked by the South Korean Minister of Foreign Affairs, Hon. Cho Tae-yul, on the sidelines of the First Korea-Africa Summit, which concluded yesterday in Seoul. Under the terms of the Framework Agreement, the Korean Government shall enable the Ugandan Government to obtain loans from the Economic Development Cooperation Fund (EDCF) up to a maximum commitment amount in Korean Won not exceeding the equivalent of Five Hundred Million US dollars (US$ 500,000,000) for the years 2024 through 2028 to finance EDCF loan projects in the Republic of Uganda.
