Uganda Secures World Bank Loan

Uganda has been given a $140 million loan from the World Bank to upgrade facilities in the Albertine region to meet the infrastructure and skills requirement needed for its launch as a soon to be oil and gas producing country.

To take advantage of its natural resources on a local content level the country will need to developed homegrown personnel with the skills to operate successfully in the oil and gas industry.

The country’s Minister of Education, Jessica Alupo, revealed that $28 million will be used to support the development of skilled personnel for the oil and gas sector. The funds will be used for the building of a new school for training oil and gas professionals, offering scholarships, and procuring international accreditation for oil and gas technical schools. A new technical school is to be built in Nwoya.

The rest of the money will be used to upgrade infrastructure.

Copyright, Petroleum Africa , 2014.