Posted on July, 24, 2018 at 09:22 am
The African Development Bank (AfDB) has approved a $20m loan to the Uganda Development Bank Ltd to support Ugandan entrepreneurs, including small and medium businesses. According to a statement issued on Friday by AfDB the loan package comprises a 10 year Sh 55.6b Sovereign Guaranteed Line of Credit for on-lending to projects in Various sectors and Sh 18.5b Non Sovereign Line of Credit to support a financing programme for Small and Medium Enterprises.
The transaction will give UDBL leverage to provide long term funding to deserving customers and industries where long tenured funds are scarce, due to the perceived risk profile of SMEs “ AfDB said.
Source: New Vision | Monday, July 23, 2018 | Page 4