Artistic impression of International Specialized Hospital, Lubowa
The Ministry of Finance has revealed that US$209.1Million (UGX723.75bn) has so far been sunk into the construction of Lubowa International Specialised Hospital as at December 2025, which is equivalent to 12 promissory notes.
The revelation was made by Libert Baluku, Head of Accounts, at the Ministry of Finance while appearing before Parliament’s Finance Committee recently to present the National Budget Framework Paper for 2026/27.
“The total expenditure to date towards the International Specialised Hospital in Lubowa stands at US$209.1Million (UGX723,751,531,332) and this is equivalent to settlement of the 12 promissory notes. The outstanding balance on the project stands at US$170.6Million (UGX590,204,449,074). There is an item called others (in presentation), this includes projections towards promissory notes that will be issued and mature during the financial year 2026/2027 under the Lubowa Hospital Project. This is worth UGX142.3Bn,” explained Baluku.
Among the achievements the Department of Treasury Operations at the Ministry of Finance listed is the management of Uganda’s public debt, where the officials indicated that as at December 2025, UGX2.891Trn had been spent in servicing Uganda’s external debt obligations, out of which the UGX2.137Trn relates to principal and UGG719Bn was interest and UGX UGX24Bn relates to commitment fees and management fees.
“We also did process domestic debt payments that is interest and principal to Bank of Uganda amounting to UGX11Trn out of which UGX1.8Trn relates to reimbursements to GOU that remained outstanding at the end of last financial year,” Baluku added.
Parliament was also informed that in the coming 2026/27 national budget, Government has set aside UGX32Bn for purchase of shares in Roko Construction Company, while another UGX50Bn will go towards payment to Bank of Uganda charges for EFTs and other services.
