The World Bank has approved $300 million budget to aid Uganda in fighting the coronavirus Covid-19.
It said Uganda’s efforts to contain the spread of the novel coronavirus had battered the country’s economy and was likely to send an extra 3.15 million citizens into poverty.
This budget support operation will enable the Government to provide vital services, social safety nets and a more robust shock-responsive system for the long term; and the economy to recover faster,” said Tony Thompson, World Bank Country Manager for Uganda.
The Covid-19 pandemic, flooding and the locust invasion have hurt the economy, dimming Uganda’s projected overall economic growth to a low 3-4 percent in the financial year 2020/2021 from an earlier projected 6.3 per cent.
He said Uganda would also expand support to the vulnerable senior citizens grant for empowerment (SAGE) programme to cover an extra 71 districts.
