Press Releases Uganda: Working visit of a delegation of the BRIDGIN Foundation

Uganda: Working visit of a delegation of the BRIDGIN Foundation

From 19TH to 28TH JULY 2023, A delegation of the BRIDGIN Foundation, a finance institution based in Brussels, accompanied by H.E. Amb. Mirjam BLAAK SOW, Ambassador of the Republic of Uganda to the BENELUX countries and the European Union undertook a 10-day working visit to Uganda from 19th-28th July 2023.

The delegation comprised of the Executives of the BRIDGIN FOUNDATION (BF), namely: the President, Prof Tanko MOUHAMADOU; the Programme Director, Mr Christophe PRIEELS; and several implementing partners of the BRIDGIN Foundation: Service Providers (SPs) and Engineering-Procurement-Construction (EPCs) companies.

The delegation met H.E. the President of the Republic of Uganda, Gen. Yoweri KAGUTA MUSEVENI; the First Lady and Minister of Education and Sports, Hon. Janet K. MUSEVENI; MINISTER of Finance, Planning and Economic Development, Hon. Matia KASAIJA; the Attorney General, Hon. Kiryowa KIWANUKA; the Minister of Energy and Mineral Development, Hon. Ruth NANKABIRWA; and the Minister of State for Higher Education, Hon. John CHRYSESTOM MUYINGO. The delegation also met with all stakeholders of the different projects.

The delegation visited the construction sites of Katalemwa where the Teaching hospital is to be established and Kabanyolo site (30 acres), where a 62 million USD Headquarters for RUFORUM, a conference hall for 1,500 people capacity and a high standing hotel are to be constructed.
Total value of the Programme to be financed by the BRIDGIN Foundation is 3 billion USD, broken down into 3 Projects: (1) is the Ayago Dam Hydro power plant (840MW installed capacity), worth 2 billion USD, (2) is the Electricity transmission lines, worth 500 million USD and (3) is for the higher education projects for the Ministry of Education and Sports.

Since the signing of the Finance and Governance Agreement (FGA) and the Power Purchase Agreement (PPA) on 12th April 2022, the selection of the SPs/EPCs companies for the projects has been a long ongoing process.

The BRIDGIN Foundation contracts the most robust and reputable multinational companies to carry out the work on the principle of “infrastructures as good as gold”. The BRIDGIN Foundation succeeded in selecting the initial six international SPs companies who participated in the Working visit.
H.E. the President of the Republic of Uganda commented on the relationship between Uganda and Europe and the western world and the interdependence involving the BRIDGIN Foundation smart solution for Africa, resulting in a win-win collaboration. He further complimented the BRIDGIN Foundation for providing Uganda with infrastructure projects that are necessary for the social and economic significant transformation of the Country.

The first phase of the BRIDGIN financing mechanism involved identifying projects of interest to the Government of Uganda, sign agreements and contracts Construction companies. The second phase is about starting the construction of all infrastructure projects in Uganda which is expected to commence early 2024. This phase ends when the construction is completed and varies for each infrastructure project. The third and operational phase is when the Foundation, through the facility management companies, will operate the built infrastructure for a concession period of many years. The end of the third and final phase, at the completion of the concession period, is a ceremonial handover of the infrastructures to the Government of Uganda at symbolic USD.

Embassy of Uganda in Brussels,
22 August 2023

Leave a Reply

Your email address will not be published. Required fields are marked *