Parliament Permits UDB to Borrow UGX305.5b as Ojangole Targets More Private Sector led Investments

Parliament has approved a motion authorizing the Uganda Development Bank (UDB) to take two loans amounting to $84.8m (UGX305.5b) that will be used to finance operations and extending more credit to the private sector in the country. The two loans are going to be secured from different financiers outside the country according to the report of the Committee on National Economy which processed the