A mission to the Pearl of Africa
Mission to Uganda
President Alkhalifa and his OPEC Fund delegation strengthen cooperation with Uganda
L ocated in the east of the continent and richly endowed with natural beauty Uganda has earned itself the moniker the “Pearl of Africa”. But the country not only boasts spectacular landscapes and thriving wildlife, it is also making serious efforts to strengthen its economy and accelerate development. The OPEC Fund has been a long-standing partner and a visit by President Abdulhamid Alkhalifa in February provided a welcome opportunity to reaffirm support and deepen cooperation. Uganda’s economy is dominated by agriculture, industry and services. It has bounced back from recent external shocks and recorded 5.3 percent growth in 2023 compared to 4.7 percent the year before, according to the World Bank. Strong economic growth is needed to sustain a rapidly growing population and reduce poverty. The OPEC Fund approved its first loan for Uganda in its first year of operations in 1976 and to date has financed 21 projects for almost US$290 million. Aligned with the country’s needs they include, for example, support for infrastructure development, the financial sector, agriculture, education and healthcare.
The visit of the OPEC
Fund delegation was crowned by the signing of a US$30 million loan financing the upgrade of the Katine- Ochero road, a key infrastructure project. “Better, faster and safer
transport connections will contribute significantly to the socio-economic development and integration of Uganda’s center-east region and support your efforts to boost prosperity,” President Alkhalifa said. The OPEC Fund is co-financing the construction of a 69.3 km two-lane road, including earth works, pavement and drainage works together with the Islamic Development Bank. The road connects
Photo: OPEC Fund
rural areas in the east of Uganda and crosses pasture and woodland. The upgrade of the existing gravel road will contribute significantly to the economic prosperity of the region, assist better administration, and lower travel and transportation costs by reducing vehicle operating costs. Touching on another key part of the OPEC Fund’s activities in Uganda, the delegation which also included Regional Director Khaled Al-Zayer and Senior Country Manager Hatem El-Bakkali, also visited the Kayunga General Hospital.
Located in the northeast of the country the facility was
rehabilitated and upgraded into a regional referral hospital with a US$15 million loan. Today it has a total bed capacity of 300 and serves five districts with a population of more than 2.5 million.
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