Uganda seeks budget funds to help local firm build vaccine plant

Bloomberg | Uganda is seeking approval from lawmakers to raise 1.1 trillion shillings (US$289 million) of additional budgetary funds in part to help a local drug maker build a vaccine plant.

The Finance Ministry will use about 578 billion shillings (US$152 million) to help Dei Pharmaceuticals Ltd., which is building a factory to make messenger RNA products in the country in return for assured supplies of vaccines, Kampala-based parliament said on its website. It didn’t give details of how the funds will be raised.

President Yoweri Museveni’s government is also seeking permission from parliament to borrow US$117.3 million from Standard Chartered Plc to build the Kitgum-Kidepo road, which will connect key safari sites.

Uganda is looking for new sources of financing after the World Bank stopped budgetary funding following the East African nation’s decision to enact a draconian anti-LGBTQ legislation.