World Economy

WB Slams Uganda Projects

WB Slams Uganda ProjectsWB Slams Uganda Projects

The World Bank has poured cold water on Uganda’s infrastructure development saying it has wasted investment that is not helping the economy grow, AllAfrica reported. The World Bank warned of harder economic times unless something is done to make Uganda’s infrastructure generate revenue from the public investments that the government has borrowed money to finance. “Why do projects suddenly appear when they have inadequate justification? Contracting procedures based on poor feasibility studies coupled with inadequate supervision lead to large cost overruns and poor quality work. That’s not good value for taxpayer’s money and certainly not the kind of debt anyone would like their children to repay,” World Bank Country Manager Christina Malmberg Calvo said while speaking at the fourth national partnership forum. The national partnership forum is a platform, where all development partners and government come together to discuss and review progress in the national development programs that have been financed using loans government borrowed from creditors outside the country.

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