ACP-EU gives Uganda go-ahead to proceed with East African Crude Oil Pipeline project

Construction of pipeline had been criticized over its link to human rights violations and potential degradation of environment. KAMPALA, Uganda The African, Caribbean, Pacific – European Union (ACP-EU) Joint Parliamentary Assembly has overturned an earlier decision and voted to allow Uganda to proceed with developing the East African Crude Oil Pipeline (EACOP) project. The 1,443-kilometer…

Ugandan lawmakers sign off on $464 million infrastructure loan

Elias BiryabaremaReuters KAMPALA, Nov 3 (Reuters) – Uganda’s lawmakers have approved a request by the government to allow it to borrow $464 million from Standard Chartered Bank STAN.L and other international lenders to help finance infrastructure development, parliament said on Thursday. “The House has approved a request to borrow to $464.13 million from Standard Chartered Bank and other finance…