World Bank approves poverty reduction fund for Uganda

To advance the Sixth Poverty Reduction Support Operation (PRSC6) in Uganda, the World Bank has agreed to provide $125 million in loan assistance to the government. “The PRSC operation will continue to support the government in further prioritizing its spending for maximum poverty reduction impact and in developing a medium-term vision to ensure pro-poor economic growth,” remarked World Bank Country Manager Grace Yabrudy. The bank noted, however, that considering a 10 percent fall in International Development Association loans from $150 million to $135 million for the PRSC5, the government should prioritize “improving budget execution, decentralization and anti-corruption” initiatives. (Source: World Bank okays program of 125 mil dollars to Uganda/Xinhua)

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