The Minister of ICT and National Guidance, Justine Kasule LumumbaGovernment will borrow up to EUR 142.6 million (about Shs645 billion) to upgrade two major roads to paved standard and spend Shs 89.9 billion to establish a new public university in Busoga.This was revealed by the Minister of ICT and National Guidance, Justine Kasule Lumumba, while presenting Cabinet resolutions taken on October 5 and September 28.On roads, Cabinet approved borrowing of EUR 142,687,962.61 to tarmac the Humurwa-Karere-Kanungu Road (47km) and the Kinyantorogo-Butogota-Buhoma Road (32km).“Cabinet approved a proposal to borrow up to EUR 142,687,962.61 to upgrade the following roads to paved standard,” Lumumba said.She said Cabinet authorised the Minister of Finance, Planning and Economic Development to seek Parliament’s approval to borrow the money in accordance with Article 159 of the Constitution and Section 34 of the Public Finance Management Act.Cabinet also approved the establishment of a public university in Busoga sub-region. The university, which will be named Iganga University, replaces the earlier proposal to take over Busoga University.“After discussing the proposal to establish Busoga University as a public university, Cabinet decided to name it Iganga University,” Lumumba said.She said Cabinet authorised the Ministry of Education and Sports to work with the Ministry of Justice and Constitutional Affairs to prepare the legal instrument needed to establish the university.According to Lumumba, Namasagali will be a constituent college of the university, with marine and fisheries departments, and the university will also include other inherited campuses.“Cabinet approved UGX 89,998,436,284 to establish Iganga University and enable it to begin operating,” she said, adding that the Minister of Education and Sports will seek Parliament’s approval to establish it as a public university.On September 28, Cabinet also approved a proposal to issue Uganda’s sovereign Sukuk amounting to EUR 405 million to finance a section of the Malaba-Kampala Standard Gauge Railway.“Cabinet approved a proposal to issue Uganda’s sovereign Sukuk amounting to EUR 405 million to finance a section of the Malaba-Kampala Standard Gauge Railway,” Lumumba said.She added that Cabinet also approved the proposed Uganda Railways Bill, 2026, to replace the Uganda Railways Act.“The Bill addresses current challenges and emerging issues, including technological advancements, evolving markets and urban mobility dynamics,” she said.The post Gov’t to Borrow Shs645Bn to Upgrade Two Roads, Earmarks Shs89.9Bn for New Iganga University appeared first on Business Focus.