€342.6M Loan for Karuma–Tororo Power Line and Ntinda Substation

On the 15th day of October 2025, a proposal by Government to borrow up to Euro 342,592,806.25 from Standard Chartered Bank for the construction of the 400kV Karuma–Tororo double circuit transmission line and associated substations, as well as the 132/33kV Ntinda substation project, was presented to the Committee on National Economy. Article 159 of the Constitution empowers Government to borrow from any source, provided that the terms and conditions of such borrowing are laid before Parliament and approved by resolution. Furthermore, Section 36 of the Public Finance Management Act (PFMA), 2015, authorizes the Minister of Finance to raise loans and issue guarantees on behalf of Government. In line with Rule 162 of the Rules of Procedure of the Parliament of Uganda, the Committee on National Economy considered and scrutinized the proposal and now submits its report for the consideration of the House.