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February 8, 2008

Uganda sends financial aid to winter-struck China

by Richard Kilner

Story link: Uganda sends financial aid to winter-struck China

Parts of China devastated by the worst winter weather for decades have already received large loans from Chinese banks to help alleviate the energy and transport problems that have struck the affected regions.

Financial help is now arriving from further afield, as the Standard Chartered Bank Uganda has donated 10m Ugandan shillings, equivalent to around US$5,800, to those affected.

CEO Lamin Manjang made the donation yesterday, whilst attending a celebration of the Spring Festival the bank had arranged for members of the Chinese community in Kampala.

Including the bank’s own donation, 28.5m shillings were raised to aid the weather-struck regions.

The Bank of Uganda’s governor, Tumusime Mutebile, has also promised a personal donation amounting to 8m shillings.

Both John Nagenda, a senior presidential advisor, and Maggie Kigozi, the Uganda Investment Authority’s executive director, have promised 1m shillings apiece.

China’s dire winter weather has led to enormous financial repercussions, blackouts in scores of towns and counties, and the deaths of almost 100 people to date.

 

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