The East African Development Bank (EADB) has announced a new $13 million fund targeting youth and women-led businesses across East Africa.
The regional lender also unveiled a new leadership team during its Governing Council meeting in Kampala.
The Fund, which will be rolled out through partner financial institutions, is part of the Bank’s 2024–2028 Strategic Plan aimed at promoting inclusive socio-economic development within member states.
The announcement comes as EADB reported strong financial growth for the year ended December 2025, posting a 51% rise in profit before tax to $16.93 million from $11.20 million recorded in the previous financial year.
According to the Bank, loan disbursements increased by 140% while outstanding loans grew by 52%, reflecting expansion in lending operations and improved portfolio performance.
Outgoing Governing Council chairperson and Finance Minister, Matia Kasaija, said the performance reflected EADB’s strengthened capacity to mobilize resources and finance projects across different sectors in the region.
“This strong performance is a testament to EADB’s enhanced capacity to mobilize resources and deploy innovative financing solutions,” Kasaija said, noting that the newly established fund is intended to address financing gaps affecting youth and women entrepreneurs, who he described as key drivers of economic growth and innovation in East Africa.
“We recognise that youth and women are critical drivers of economic growth and innovation across East Africa,” he said, adding that the Bank would continue engaging development partners to expand the Fund and ensure its long-term sustainability.
The Governing Council meeting also marked changes in the Bank’s leadership in line with the EADB Charter.
Rwanda’s Minister of Finance, Yusuf Murangwa, was confirmed as the new chairperson of the Governing Council, succeeding Kasaija.
Uganda’s Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi was appointed chairperson of the board of directors for a two-year term, replacing Tanzania’s Natu Mwamba.
The meeting was attended by finance ministers and senior officials from Uganda, Rwanda, Kenya and Tanzania, alongside members of the EADB board of directors.
