Standard Chartered Bank and the Government of Uganda have signed a financing agreement for the upgrade of the Kitgum-Kidepo Road, a move that will strengthen connectivity, support regional trade, and unlock tourism potential in North and North-Eastern Uganda.
The agreement was signed at the Ministry of Finance, Planning and Economic Development in Kampala on 2nd July 2026, with senior government officials, representatives of development partners, the contractor, members of the diplomatic community, and the media in attendance.
Under the agreement, Standard Chartered Bank will provide financing of up to €110.5 million (approximately UGX 480.9 billion) to support the upgrading of the road, a strategic corridor connecting the Acholi and Karamoja subregions and providing onward linkage to South Sudan.
The road project is expected to strengthen regional integration, support trade flows, and unlock tourism potential along the Murchison Falls and Kidepo tourism circuit. The project is also expected to contribute to socio-economic development by improving market access and supporting safer, more reliable transport infrastructure.
This latest transaction builds on an earlier financing package signed in January 2025, through which Standard Chartered supported three key infrastructure projects in Uganda: the Karuma–Tororo Transmission Line and Ntinda Substation; Phase II of the Strategic Towns Water Supply and Sanitation Project; and the Critical Roads Project, covering the Karugutu–Ntoroko Road, the Rwebisengo Link, and roads within Ntoroko Town.
The Kitgum-Kidepo financing reinforces Standard Chartered’s longstanding track record of supporting government priorities in Uganda, spanning budget support, energy, and infrastructure. Over the years, the bank has backed landmark projects including solar-powered irrigation in Karamoja, the Kampala Industrial Business Park in Namanve, and Kabaale International Airport in Hoima.
Speaking at the ceremony, Minister of Finance, Planning and Economic Development Henry Musasizi described the agreement as an investment in Uganda’s future.
“Today’s signing is not simply about financing a road. It is about investing in Uganda’s future. It is about connecting farmers to markets, industries to raw materials, tourists to destinations, and businesses to opportunity,” Musasizi said.
Minister of Works and Transport Fred Byamukama said the road would improve access, mobility, and economic activity across Northern Uganda.
“This project will strengthen connectivity between regions, improve access to tourism destinations, and support the wider transport agenda of Government,” Byamukama said. “It will also enhance the movement of people, goods and services, reduce travel time and operating costs, and help open up the corridor to greater commercial activity.”
Sanjay Rughani, Chief Executive Officer of Standard Chartered Bank Uganda, said the bank remained committed to supporting government priorities.
“Today’s signing underscores our continued commitment to supporting Government priorities that are both economically viable and developmentally impactful,” Rughani said. “The Kitgum–Kidepo Road is a strategic investment that reinforces our long-term role as a trusted Corporate and Investment Bank.”
Mrs Maria Kiwanuka, Board Chairperson of Standard Chartered Uganda, said the transaction demonstrated the power of long-term partnership in delivering infrastructure that can transform livelihoods and strengthen national competitiveness.
