Tuesday, November 4, 2003
Kenya to pay Uganda Sh2.7b
By NATION Reporter
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Mr Raila Odinga (left) and PS Erastus Mwongera (right) receive Mr Matayo Kyaligonza. Photo by Robert Gicheru |
Kenya is to pay a Sh2.7 billion debt to Uganda in kind. Cabinet minister Raila Odinga announced yesterday that the country would pay the debt by constructing roads for Uganda.
The finer details of the deal would be worked out next week when Uganda's Finance minister visits Kenya. The debt, under the East African Compensation Fund, accrued after the collapse of the East African Community in 1977.
The Roads, Public Works and Housing minister was speaking in his office after receiving Uganda's High Commissioner to Kenya, Mr Matayo Kyaligonza, who said his government had waived about $50 million in interest on the $35 million debt.
Mr Odinga said Kenya and Uganda enjoyed "the best of relations".
The problems faced by fishermen in Lake Victoria would be resolved once the Customs Union was signed, he said.
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