Uganda’s pipeline plans face stiff opposition
Friday, October 7, 2022
Significance
Since the project was announced in 2020, it has faced sustained international scrutiny and growing criticism, which in turn have created questions about the project’s financing.
Impacts
- Uganda expects to earn average annual oil revenues of almost USD3bn over 25 years, which is roughly 50% of current domestic revenues.
- New commitments by the Islamic Development Bank (USD100mn) and Afreximbank (USD200mn) are a fraction of needs but offer a symbolic boost.
- Funding for a planned refinery may be easier to secure but is meaningless without the wider oil development.
Related articles
