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Funding queries over secrecy shrouded Karuma power project

The financing of 600MW Karuma hydropower project is still shrouded in secrecy despite the China Exim Bank giving the much-awaited advance payment guarantee, whose value remains unclear.

Ministry of Energy officials are tight-lipped on the specifics of the guarantee that should pave the way for the implementation of Uganda’s biggest power project on the Nile River. The project is to be funded 85 per cent by a concessional loan from the China Exim Bank and 15 per cent by the government of Uganda.

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