Govt Seeks to Borrow USD70M For Heart Institute-To Enhance Quality Cardiovascular Care.
The minister of state for finance Henry Musasizi has asked the parliamentary committee of National Economy to grant the government permission to borrow USD70m to finance the construction of and Equipping of the Uganda Heart Institute Project in Nakawa.
The project is intended to improve the number of patients receiving quality Cardiovascular care and reduce the number of referrals abroad.
According to Dr. John Omagino the executive director of Uganda Heart Institute, Uganda loses over USD70m annually in medical tourism abroad due to a lack of super-specialized facilities to manage cardiovascular diseases domestically.
It’s upon that background that the government is seeking parliamentary approval to borrow up to USD70m from the Saudi Fund for Development, Arab Bank for Economic Development in Africa, and OPEC Fund to fund the construction and Equipping of the Uganda Heart Institute Project to improve the number of patients receiving cardiovascular care in Uganda. The government of Uganda will also contribute USD3M to push the project cost to USD73m.
The minister of state for finance Henry Musasizi and the minister of state for health (General Duties) Margret Muhanga appeared before the Parliamentary committee of National Economy and justified the need for this loan.
Although MPs overwhelmingly support the loan to have this magnificent facility in the country to domesticate quality cardiovascular care, they expressed fears that Nakawa-Nagguru Land where it’s going to be established has got encumbrances of Tenants yet parliament directed for cancellation of land titles that were issued by Uganda Land Commission on this land.
The loan will cater for Civil works and ancillaries, Procurement of furniture and equipment, Consultancy services, and Project management. The 250-bed capacity facility expected to enhance the productivity and social wellbeing of the population will be delivered in four years’ time.