Eronda
JF-Expert Member
- Dec 16, 2025
- 893
- 501
Parliament on Wednesday approved a loan request allowing government to borrow up to Euro 168,976,354, approximately Shs734.2 billion, for the development of Phase II of the solar-powered irrigation systems project.
Finance Minister Henry Musasizi tabled the motion to borrow the money from UK Export Finance and Citi Bank during the fourth sitting of the 12th Parliament, presided over by Speaker Marksons Jacob Oboth-Oboth.
According to him, the proposed project will develop 427 irrigation systems across the country, aimed at enhancing rural incomes through increased production and productivity arising from irrigated agriculture for coffee growing.
He said the project is expected to directly benefit about 2,562 households, translating to about 11,785 direct beneficiaries.
The Finance Minister disclosed that the loan proposal is to finance the budget for FY 2026/2027, which starts on 1st July.
Meanwhile, Leader of Opposition Joel Ssenyonyi emphasised the need for accountability on the money extended in phase I of the project.
Daily Monitor
Finance Minister Henry Musasizi tabled the motion to borrow the money from UK Export Finance and Citi Bank during the fourth sitting of the 12th Parliament, presided over by Speaker Marksons Jacob Oboth-Oboth.
According to him, the proposed project will develop 427 irrigation systems across the country, aimed at enhancing rural incomes through increased production and productivity arising from irrigated agriculture for coffee growing.
He said the project is expected to directly benefit about 2,562 households, translating to about 11,785 direct beneficiaries.
The Finance Minister disclosed that the loan proposal is to finance the budget for FY 2026/2027, which starts on 1st July.
Meanwhile, Leader of Opposition Joel Ssenyonyi emphasised the need for accountability on the money extended in phase I of the project.
Daily Monitor
