Uganda’s agriculture sector, both agro-industry and primary agriculture as well as manufacturing have emerged as the leaders in performance of the products offered by the Uganda Development Bank (UDB) according to a statement issued recently. The Bank released a mid-year update covering the period July-2020-July 2021. In total UDB approved loans worth UGX 649Billion in the reporting period. A total of UGX 362 Billion was disbursed according to the Bank. “The reporting period significantly covers economic activity during the on-going COVID19 national emergency including two lockdowns in 2020 and in 2021 during which government policy focused on import substitution and…
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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 loans. It is a relief to the management of the UDB as Executive Director Ms Patricia Ojangole told this website that the bank was appreciative of the Parliament and government support to ensure that its strategy…
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