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Muhakanizi: I Receive 10 Loan Proposals Daily

Uganda’s Secretary to the Treasury Keith Muhakanizi says creditors have so much money that they are looking for all ways to lend to the government.

He revealed this on Monday saying he receives, on average, 10 requests from creditors every day, both local and international, who want to lend to the government.

According to Muhakanizi, if he alone receives that many requests then the number should be more when those received by the president, the prime minister and the finance minister are totalled.

Muhakanizi said unlike two decades ago when there was mainly the World Bank and the African Development Bank, today the number has grown significantly and they are all keen to lend to the government.

The proposals are from banks, development funds and bilateral partners eager to have their huge portfolios lent out.

Muhakanizi said although borrowing is not necessarily bad, special care should be taken about unsustainable borrowing, adding that borrowing is also good for economic growth and development.

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