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South Korea signs $42 million deal to promote agro-processing in Uganda

The government of South Korea has signed a Shs107 billion ($42 million) agreement to construct a fruit processing factory, technical institute as well as rehabilitate several dilapidated vocational and business institutions in Uganda. The deal will include the establishment of farmers’ school, which will equip farmers with modern farming skills.

According to a press statement, the projects that South Korea will fund include; a Shs10. 2 billion ($4 million technical college in Kampala and a Shs18.9 billion ($7.4 million) fruit factory in Soroti. Other projects include a Shs8.9 billion ($3.5 million) farmers’ school in Kampiringisa, Mpigi District, and the rehabilitation of five business technical and vocational institutes which are likely to cost about Shs68.8 billion ($26.8 million).

Mr Kim Young-Mok, the Korea International Cooperation Agency (KOICA) president, said the grant seeks to not only pacify the country’s economy but will also accelerate Uganda’s progress towards achieving the Millennium Development Goals.

He said: “The technical colleges that we will establish will in addition to other things inspire young people and teach them the importance of being organised.”

The Korea International Cooperation Agency is the implementing agency for the government of South Korean projects in Uganda.

Mr Young-Mok’s three-day working visit to Uganda came as a follow-up to discussions held with President Museveni in regard to development cooperation.

In May the President visited South Korea to discuss bilateral trade among the two countries. During the meeting, the South Korean government agreed that it would until 2015 focus about 70 per cent of its Ugandan aid budget on development.

Key projects

Key among the projects will include improving agricultural productivity and value addition through expanding agricultural infrastructure and improving agricultural technology.

The fund will also seek to enhance productivity and transparency of public administration, developing the ICT sector through e-governance and promote balanced regional growth through the expansion of road infrastructure.

The minister of Finance, Maria Kiwanuka said Uganda is interested in working with the South Korean government with a view of steadily improving investments in the country. She reiterated that the grant would be well utilised and used for its intended purpose.

Source: newvision.org
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