Uganda is set to borrow US$84.73 million from the Exim Bank of China to finance the National Science, Technology, Engineering and Innovation Skills Enhancement Project (ENSTEI-SEP).
Cabinet on Monday approved the proposal to get the loan to establish two centres 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.
The two centres will be the National Science, Technology and Engineering Skills Enhancement Centre (NSTESEC) and Technology, Innovation and Business Incubation Centre (TIBIC).
According to a statement from cabinet, the two centres will retool graduates, craftsmen, technicians, and engineers to undertake various infrastructural works (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 help establish technology, innovation and business incubation facilities including work-spaces and Common User Facilities for scientists and innovators to help them further develop their technologies and business models.
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