Uganda plans to borrow $608 million to develop infrastructure

Uganda plans to borrow $608 million from lenders such to finance infrastructure development, a parliament document showed on Tuesday.

Of the total credit, Uganda plans to source $448 million from an Asian development lender, according to the document seen by Reuters.

The government plans to request lawmakers to approve the credit lines, it showed, but did not give details of specific projects to be financed.

Total public debt in the prospective crude oil producer rose to $32.3 billion in the twelve months to June, up 26.2% from the previous period, finance ministry data shows.