The Bank is focused on financing Ugandan entities that provide accommodation (hotels, lodges) in tourism areas/sites, development of hotel management/hospitality training institutions, support purchase of specialized tourist transport facilities for example tour vehicles and marine boats, provision of specialized equipment and fittings which includes kitchenware, laundry, furniture, development and preservation of unique cultural/heritage sites, plus development of tourist stopover facilities which all harness Tourism potential in the country.
Other forms of tourist equipment
The projects financed are geared towards supporting development of tourism infrastructure and services with specific emphasis on the tourism belt. Funding focuses on the following;
- Development of accommodation facilities in Game Parks and other tourist destinations.
- Development of ecological sites.
- Development of heritage sites/ cultural centers.
- Development of tourist stop overs.
- Purchase of specialized tourist transport facilities.
Tourism Call - Frequently Asked Questions
It is a grant attached to a loan (also known as ‘facility’) to enable the tourism sector soar through the hardship of COVID-19. The facility seeks to stimulate businesses operating in the tourism sector, which has been heavily impacted by COVID-19 by providing a soft loan with flexible terms aligned to the current needs of the sector; the loan will be accompanied by a grant.
The facility has a concessional loan interest rate not exceeding 12%; however, the effective cost of the facility to the borrower shall not exceed 8%.
An entity and its sister organizations can apply individually as long as the total amount applied for does not exceed Shs1 Billion (for both loan and grant).
No, the entity must qualify for the loan before accessing he grant.
No, the grant is not repayable.
Accordion No, the entity should submit copies of the original documents.
On receipt of the project proposal, a decision is made on whether the project is eligible for funding or not. The applicant is then notified of the decision. Once the project is eligible for funding, a detailed appraisal is carried out. After the detailed appraisal, the Bank makes a decision, and the customer is notified accordingly. The Bank commences disbursement upon fulfilment of the disbursement conditions agreed with the customer.
Yes, you need collateral for the loan facility of up to 120% cover.
No, the intervention is for entities that have been in existence for two years (2020 and 2021) and more. Consideration is for businesses that were affected by the Covid-19 pandemic.
Yes, you do qualify. The intervention caters for everyone in the tourism sector countrywide.
The intervention is open to all entities within the tourism sector.
The deadline for application is 31st of October 2022 at 5:00pm.
No, this is a working capital facility. It can be used for payment of salaries, permits, utilities, transport, and stational among other operational costs. Funds for the construction of the swimming pool, hotel rooms etc can be applied for separately.