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Uganda Development Bank Ltd (UDB), the country’s national Development Finance Institution has released its 2023 results, reporting what the bank says is a “continued pivotal role in fostering economic resilience and sustainable growth across key sectors of the economy”. According to the results, released during the Annual General Meeting held at the Ministry of Finance, Planning, and Economic Development, the Bank continued to grow, with total assets closing at UGX1.67 trillion in 2023, a 10% uplift from UGX1.52 trillion the previous year. This was largely boosted by growth in new loans⏤ new loans disbursed in 2023 amounted to UGX610 billion,…
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Bob Bonabo Munene, a development economist has been appointed as a non-executive director to the Uganda Development Bank Board, CEO East Africa has learnt. UDB is the country’s national Development Finance Institution (DFI) with a mandate to accelerate socio-economic development in Uganda through sustainable financial interventions. The Bank is mandated to support projects within the private sector that demonstrate the potential to deliver high socio-economic value, in terms of job creation, improved production output, tax contribution and foreign exchange generation, among other outcomes. Mr. Bonabo, according to our sources, is an economist with more than 14 years of experience in…
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Uganda Development Bank (UDB), the country’s key strategic partner in delivering socio-economic transformation through sustainable financial interventions, on April 4th launched the UDB Climate Finance Facility (CFF)⏤ a strategic Fund that will make available affordable finance that aims to promote climate-smart agriculture, ensure climate resilient infrastructure and low carbon industries. Addressing guests at the launch, the Managing Director UDB Ms. Patricia Ojangole said “the increasing threat of climate change and environmental degradation has the potential to present high socio-economic risks to the economy”. “As the impacts continue to manifest through floods, drought, landslides, animal and crop epidemics among other signs…
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As part of its Covid-19 response program, Uganda Development Bank (UDB) has just issued a call for applications for priority lending to selected sectors at not more than 12 percent interest. These include: food & beverages, textiles, clothing, leather & footwear (hides & skin), paper and publishing, packaging and wrapping materials, chemical & industrial products, timber, woodworks & furniture manufacturing, construction materials, pharmaceutical products, human & animal drugs manufacture and electricals. In this interview with CEO East Africa Magazine, Patricia Adong Ojangole, the Bank’s Managing Director shares more details on who qualifies and how to apply for the facility.
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