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Friday, 27 August 2010

Uganda: EU Cuts Sh8.5 Billion on Budget Support

The European Union has released its budgetary support to the government for the 2010/2011 financial year with a reduction of 3m euros (sh8.5b) compared to 2009/2010. Vincent De Visscher, the head of the European Union (EU) delegation, recently said they had decided to release 23m euros (sh65b) of the second grant disbursement due to slow progress on the key indicators in the fight against corruption. De Visscher, who was addressing a press conference at the finance ministry in Kampala, also noted it had been long recognised that the main agent of change for the lives of Ugandans was with the Government and as such, it should spend public funds efficiently and fight corruption at all levels. "The EU works closely with other multinational and bilateral development partners through the joint budget support framework to regularly assess government performances against jointly agreed indicators and targets with a view to achieving better value for money," De Visscher said. He said the EU welcomed the positive progress for a strong macro-economic performance and the finalisation of the new national development plan, adding that the implementation of some reforms aimed at increasing transparency and value for money in the use of public funds have lagged. Syda Bumba, the finance minister, reiterated the Government's commitment to fight corruption, adding that it would take action on the alleged corrupt officials.

Source: Allafrica