• Uganda signs €115.8 million Standard Chartered loan for road projects
• Funds Karugutu-Ntoroko road, Rwebisengo link, Ntoroko urban roads
• Deal supports Albertine trade route, part of broader infrastructure push

The Ugandan government has signed a €115.8 million ($136.5 million) credit facility with the Ugandan subsidiary of British bank Standard Chartered to finance road projects.

The agreement was announced on Friday, Jan. 30, 2026, according to a statement from the Uganda Broadcasting Corporation. The deal will fund the construction of the 56.5-km Karugutu-Ntoroko road, the 8.2-km Rwebisengo link, and 3.3 km of urban roads in Ntoroko.

“The road upgrades will support infrastructure development in the Albertine region, a key trade route linking Uganda to the Democratic Republic of Congo,” the statement said.

The financing comes as Ugandan authorities step up efforts to mobilize external funding to strengthen key infrastructure and support the objectives of the national development plan. Last October, the government announced a series of loans from international institutions and commercial banks to fund major projects in agriculture, road infrastructure, and energy.

These include about €422.4 million sought from Citibank to improve agricultural productivity and build new roads. They also include $1.3 billion requested from the International Development Association, a member of the World Bank Group, alongside a $328 million grant to finance development programs and strengthen public services.

In Uganda, roads play a critical role in linking oil production areas to refineries, pipelines, and regional markets, particularly in the Lake Albert region. The upgrades are also expected to reduce travel times, lower transport costs, and facilitate interregional trade.

Two additional financing agreements finalized

The Ugandan government and Standard Chartered also finalized two other financing agreements. The first involves a €342.5 million package for the Karuma-Tororo 400 kV double-circuit power line and the Ntinda substation, aimed at improving electricity transmission from the Karuma hydropower plant.

The second agreement, worth €182.8 million, will finance the second phase of a town water supply and sanitation project in Nakasongola district and other areas, including Kamuli, Mayuge, Bugweri, and Alebtong. The project aims to serve 740,000 people by 2030 through the construction of water treatment plants and sanitation facilities, improving public health and productivity.

These investments form part of the East African country’s long-term growth strategy, which seeks to expand the economy from $50 billion to $500 billion by 2040, driven by agro-industrialization, tourism, mining, and scientific and technological innovation.

Lydie Mobio