Stanchart to Offer Uganda €641 Million in Loans Aimed at Growth

Standard Chartered Bank’s Ugandan unit said the lender will provide three loan packages totaling about €641 million ($760 million) for key power, road and water projects aimed at supporting economic growth in the East African nation.

“These projects will go a long way in supporting Uganda’s development trajectory,” Finance Minister Matia Kasaija said in a statement issued by the bank — namely, to grow Uganda’s economy to $500 billion by 2040, the so-called “ten-fold growth strategy.”