{UAH} Uganda: Money Uganda Owes Different International Lenders
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7:46 AM |
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Kampala — • $5.4686 billion (Shs19.3 trillion) – Uganda's outstanding public debt to international creditors as of June this Fiscal Year
Uganda is more indebted to the International Development Association (IDA) than it is to China.
Uganda's outstanding debt to the IDA is $2.567 billion (Shs9 trillion) whereas its debt to China is $1.099 billion (Shs3.8 trillion) as of June 2017, according to Uganda's Finance ministry.
Unlike China, which offers close to 45 per cent of tranches of its loans on commercial terms, IDA is wont to extend interest-free loans to developing countries like Uganda.
IDA lends such countries money to finance education, health and transport services.
China offers loans to build roads, railways and power plants.
Some of the sectors funding using the borrowed funds are Education, Health, Roads, Energy and Agriculture.
Uganda's total debt – domestic and foreign – adds up to $8.4 billion, according to the Finance ministry (June 2017).
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