Government has approved a proposal to borrow 20.6 million Euros (about Shs. 84 billion) from Spain, Nile Post has learnt.
According to the cabinet meeting held on Monday, May 27th, 2019 at the State House in Entebbe, the money will be borrowed from the Corporate Internationalization Fund of Spain, for the implementation of Project “Airborne Geophysical Survey and Geological mapping of Karamoja”.
Cabinet said that this will enable Government complete the airborne geophysical map of the country to establish the mineral resources of Uganda especially in the Karamoja region.
They said that will also improve livelihoods for mining communities as a result of better returns from mining activities while Government agencies such as universities were also tipped to benefit from the easy access to minerals data to facilitate research.
While speaking to journalists, Government Spokesperson and Uganda Media Center Executive director Ofwono Opondo said that the move will help government to complete the natural geological map of the country.
” This will help government to complete the national geological map of the country, specifically the Karamoja region,” Ofwono Opondo said in part.