<\/p>\n
PRESS RELEASE <\/strong><\/p>\n Kigali, <\/strong>BADEA – <\/strong>The Arab Bank for Economic Development in Africa and the Government of Uganda have signed two Facility Agreements amounting to USD 150,000,000 to support private sector growth.<\/p>\n The agreements have been signed by H.E. Abdullah ALMUSABEEH, BADEA President, and H.E. Matia Kasaija, Minister of Finance, Planning and Economic Development, at the margin of the 41st<\/sup> Board of Governors of the Trade and Development Bank Group (TDB Group) in Kigali, Rwanda.<\/p>\n The Government secures two-thirds of this loan (USD 100,000,000) under BADEA\u2019s Private Sector window to support the Ugandan Development Bank Limited (UDB) in on-lending to vital sectors of the economy, including agro-processing, infrastructure, manufacturing, health, and education. The remaining third (USD 50,000,000) is secured under BADEA\u2019s Public Sector window. It aims at financing micro, small and medium enterprises (MSMEs) operating in agriculture, agro-processing and industry, infrastructure, and health education sectors. This goes in line with BADEA 2030, the Bank\u2019s strategic framework revolving around infrastructure, private sector and trade finance, SMEs, agricultural value chains and capacity development.<\/p>\n \u201cToday\u2019s loan agreement with the Government of Uganda is an outstanding example of how Governments can leverage from BADEA\u2019s available financial instruments from both the public and private sectors as well as from trade finance windows to empower the private sector and advance countries\u2019 social and economic development agenda,\u201d H.E. Abdullah ALMUSABEEH, BADEA President<\/strong> said during the event.\u00a0 <\/em><\/p>\n Since its inception, BADEA and its sister institutions from the Arab Communication have committed around USD 2.5 billion to Uganda\u2019s development priorities across sectors, including agriculture, transport, energy, education, health, and water supply and sanitation infrastructures.<\/p>\n The Managing Director of Uganda Development Bank, Dr. Patricia Adongo Ojangole<\/strong>, lauded BADEA and the government of Uganda for their commitment towards private sector growth in Uganda.<\/p>\n \u201cWe are proud to partner with the Government of Uganda and BADEA in supporting the growth of the private sector through strategic investments. This collaboration embodies our commitment to fostering economic development across Uganda, particularly in the critical sectors of the economy including agriculture, health, and infrastructure. By empowering micro, small, and medium enterprises, we are not only enhancing livelihoods but also driving sustainable growth in Uganda,<\/em>\u201d she said.<\/p>\n Hon. Matia Kasaija, Minister of Finance, Planning and Economic Development of Uganda <\/strong>underscored: \u201c<\/strong>Our partnership with BADEA has been thriving year after year. I commend BADEA\u2019s agility in responding to our government calls on development priorities. Over the last five decades, our partnership has been more focused on public sector interventions, especially in infrastructure. Today, BADEA has stood up to call for finance for development to expand its financial instruments to the private sector and trade.\u201d \u00a0\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" PRESS RELEASE Kigali, BADEA – The Arab Bank for…<\/p>\n","protected":false},"author":2,"featured_media":4998,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[54,149],"tags":[],"class_list":["post-4997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-release"],"acf":[],"_links":{"self":[{"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/posts\/4997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/comments?post=4997"}],"version-history":[{"count":1,"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/posts\/4997\/revisions"}],"predecessor-version":[{"id":4999,"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/posts\/4997\/revisions\/4999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/media\/4998"}],"wp:attachment":[{"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/media?parent=4997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/categories?post=4997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/udbl.co.ug\/blog\/wp-json\/wp\/v2\/tags?post=4997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}