How does Uganda Development Bank operate?
Uganda Development Bank Ltd (UDB) is a non-deposit taking Development Finance Institution (DFI). It finances projects that are identified as having significant, positive socio-economic impact but deemed unattractive by commercial banks and other conventional financial institutions.
It is capitalized by its shareholder, the Government of Uganda, augmented by various development partners and agencies. Being non-deposit-taking, UDB effects its transactions through commercial banks
Where are your branches located?
UDB does not have branches. Our offices are located in Kampala, but our personnel travel countrywide, reaching every region that has qualifying projects. We have financed projects in every region of the country.
Who owns Uganda Development Bank?
UDB is fully government owned, represented in its shareholding by the Minister of Finance, Planning and Economic Development and the Minister of State for Privatization.
What type of projects do you finance?
Projects financed must fall in the priority sectors of Agriculture, Tourism and Hospitality, Manufacturing, Human Capital (Health and Education) and Infrastructure, Minerals Oil & Gas. We finance primary agricultural production, value addition, manufacturing, expansion, upgrade and modernization ventures as well as start-ups which meet the basic initial investment requirements. We also provide a range of working capital facilities and trade finance services.
Who qualifies for UDB services?
Applicants must be incorporated entities, Co-operatives or registered farmer groups. The projects must fall in our defined priority sectors.
How does UDB loans differ from commercial loans?
UDB loan is specifically targeted to start-up businesses to ensure that such businesses have increased access to financing. In addition, UDB loans have a longer tenure than other commercial loans, which are usually short-term.
Can I open a current or savings account at UDB?
No, UBD is a wholesale Financial Institution and does not provide retail banking services.
How do I get in touch with UDB?
For any inquiry, complaint or suggestion, you may contact us directly through the following channels;
Call: 256 414 355 550 /256 312 355 500