{"id":12174,"date":"2024-11-11T13:39:02","date_gmt":"2024-11-11T10:39:02","guid":{"rendered":"https:\/\/www.atidi.africa\/atidi-supports-financing-for-ugandas-major-infrastructure-project\/"},"modified":"2024-11-11T13:39:02","modified_gmt":"2024-11-11T10:39:02","slug":"atidi-supports-financing-for-ugandas-major-infrastructure-project","status":"publish","type":"post","link":"https:\/\/www.atidi.africa\/ja\/atidi-supports-financing-for-ugandas-major-infrastructure-project\/","title":{"rendered":"ATIDI Supports Financing for Uganda&#8217;s Major Infrastructure Project"},"content":{"rendered":"<ul>\n<li>ATIDI Covered Term Loan extended to the Government of the Republic of Uganda is set to finance the development of a 97km road;<\/li>\n<li>Citi acted as sole coordinating Mandated Lead Arranger and a lender. The financing was also supported by the Development Bank of Southern Africa (DBSA) and Absa Bank (Mauritius) Limited as a syndicate;<\/li>\n<li>The Project is expected to promote equal access to economic and social development opportunities across the country, and enhance the Government\u2019s efforts for poverty eradication and economic development.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Kampala, 8 November 2024<\/strong> \u2013 The African Trade &amp; Investment Development Insurance (ATIDI) has successfully provided a political risk insurance cover of a \u20ac126 million term loan extended to the Government of the Republic of Uganda, represented by the Ministry of Finance, Planning and Economic Development. This financing will support the design and development of the Lusalira \u2013 Nkonge \u2013 Sembabule Road (97km) upgrading road project from gravel to paved standard. This project is an integral part of Uganda&#8217;s national infrastructure enhancement initiative, aiming to improve connectivity, promote trade, and ensure better access to key economic areas.<\/p>\n<p>The loan, which is structured as a multi-party syndicated facility, was coordinated by Citi, acting as the sole Mandated Lead Arranger and Lender. The syndicate also includes Absa Bank (Mauritius) Limited, with additional backing from the Development Bank of Southern Africa (DBSA), a prominent development financial institution in the region.<\/p>\n<p>A well developed and efficient transport infrastructure is vital for economic and social development of a country. Once completed, this road is expected to significantly reduce transportation costs, provide direct employment opportunities during the construction phase, further supporting government efforts to eradicate poverty and spur economic development while enhancing regional trade links and stimulate economic growth in the region. Additionally, the route\u2019s proximity to a significant cultural Bigo Byamugenyi archaeological site enhances tourism potential, promoting access to economic opportunities and fostering local growth.<\/p>\n<p><strong>Quote from Manuel Moses, ATIDI CEO<\/strong><\/p>\n<p><strong>\u00a0<\/strong><em>&#8220;We are proud to partner with Citi, Absa and DBSA to support the Government of Uganda with this critical infrastructure project. The Lusalira to Sembabule road is more than just a road\u2014it is a lifeline for local communities, farmers and businesses in Uganda and the broader East African region. At ATIDI, we remain committed to enabling sustainable development and economic growth through strategic, high-impact investments. This financing is a testament to our belief in the transformative power of infrastructure development.\u201d<\/em><\/p>\n<p><strong>Quote from Sarah Arapta, Citi\u2019s Chief Executive and Banking Head <\/strong><\/p>\n<p><strong>\u00a0<\/strong><em>\u201cThis transaction represents Citi\u2019s strong commitment to sustainable economic development with the goal of enhancing social progress in Uganda and the broader East African region. History has taught us that economic and social development goes hand in hand with infrastructure development and we believe that financing this transformative project represents an opportunity for us to be part of facilitating Uganda\u2019s growth story.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><em>\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ATIDI Covered Term Loan extend [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":10841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970],"tags":[],"class_list":["post-12174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-970"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/comments?post=12174"}],"version-history":[{"count":0,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/media\/10841"}],"wp:attachment":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/media?parent=12174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/categories?post=12174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/tags?post=12174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}