A US$ 70M loan has been approved for the construction of a cutting-edge facility to house the Uganda Heart Institute. Members of Parliament voted to approve the government’s request for the loan. Opec Fund for International Development, Saudi Fund for Development, and Arab Bank for Economic Development in Africa will be the loaners.
To provide flexible payment terms, the National Economy Committee of Parliament requested that the government renegotiate the loan terms. According to the committee Vice Chairperson, Hon. Robert Migadde, the Ministry of Finance should engage the financiers.
The aim is to improve the financial terms to much more favorable or partially favorable terms. The terms would be extending the repayment period of the proposed loans from BADEA and OPEC to 20 years.
Uganda Heart Institute facility to serve a huge number of heart patients
This loan approval comes in light of the challenges the Uganda Heart Institute encounters in carrying out its role. Migadde stated that the Uganda Heart Institute needs a strong foundation if it is to lay the foundation for it to become a center for cardiovascular medical services.
Also Read: Garuga stadium construction in Uganda, in good progress
On the other hand, Thomas Tayebwa urged the Uganda Heart Institute to make good use of the loan and ensure the facility is ready to serve the huge number of heart patients. Tayebwa is the deputy speaker of the parliament.
The loan was backed by the Hon. Lucy Akello (FDC, Amuru District). Akello said that the facility would help families who were having difficulties affording health care services. Dr. Nicholas Kamara confirmed that the approval will be beneficial. This is especially given the rising number of people suffering from non-communicable diseases. Kamara is a member of parliament for Kabale Municipality.
