Save schools from loans dilemma, banks tell govt  

Pupils attend lessons on March 1. With over two years of closure, it has become almost impossible to repay loans. PHOTO |  File

What you need to know:

  • Schools have already sought Shs2.5 trillion as bailout. However, bankers have asked government to create a sustainable mechanism such as the Education Recovery Fund.

The banking sector, under Uganda Bankers Association (UBA), has said they “are not interested in selling” distressed school properties, urging government to come up with a funding mechanism instead of advising proprietors to sell off their properties to clear debt obligations. 
Speaking in an interview on Tuesday, Mr Wilbrod  Owor, the UBA executive director, told Daily Monitor that education was a public good and a tool of human capital formation, whose well-being should be a concern of both government and every citizen.

Welcome!

You're all set to enjoy unlimited Prime content.