A pipeline. Ugandan parliament’s Committee on National Economy will have the last say on whether the government gets the money in time for the final investment decision, to tie up its equity in the $3.5 billion pipeline project. PHOTO | FILE | NMG
To fund its 15 percent share of the East African Crude Oil Pipeline, Uganda is opting to borrow Ush481 billion ($130 million) from the domestic market to financially back its shareholding with equity.
The 15 percent is owned through the Uganda National Oil Company and the money is a precondition for the government to solidify its ownership in the project.
