Uganda to borrow US $84.73 Million from Exim Bank of China to finance tech skills enhancement
Uganda will borrow US $84.73 Million from the Exim Bank of China to finance the National Science, Technology, Engineering and Innovation Skills Enhancement Project or ENSTEI-SEP. The Loan is required:
The funds will be used to establish the National Science, Technology and Engineering Skills Enhancement Centre or NSTESEC and Technology, Innovation and Business Incubation Centre or TIBIC to enhance skills development and promote Science, Technology, Engineering and Innovation based Enterprise development among graduates, craftsmen, technicians, engineers as well as other scientists and innovators.
According to the Ministry of ICT and National Guidance, the funds will further help retool graduates, craftsmen, technicians, and engineers to undertake various infrastructural works like electricity distribution, water drilling, and distribution, road construction, building construction pipeline construction, light railway construction among others to promote local content, create employment and generate wealth.
The funds will also be used to establish technology, innovation, and business incubation facilities including workspaces and Common User Facilities for Scientists and Innovators to help them further develop their technologies and business models.