The Uganda Development Bank Ltd (UDBL), the country’s national Development Finance Institution, approved projects worth Shs926 Billion of which a total of Shs589 Billion has so been disbursed into the Ugandan economy to support businesses during the Covid-19 pandemic period (August 2020, to-date). This disbursement represents the largest investment in the post-COVID recovery effort in the country where the government through UDB is prioritizing growth through localized value addition, production and import replacement in alignment to the National Development Plan III. The funds were deployed to support the resilience and fast recovery of the economy during and post the pandemic to through import replacement and export.
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 today. 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 second wave of the COVID pandemic has led to record infections and an increasing number of deaths. In response the government has instituted new restrictions on movement and gatherings and urged Ugandans to follow the recommended procedures to break the chain of infections.
On Thursday 18th March, the New Vision newspaper published a story, accompanied by a list of clients reported to have benefited from a Government COVID-19 bailout package.
Chairman, International Council of Sustainability Standards for Value-Driven Financial Institutions and CEO, European Organization for Sustainable Development, Germany.
Karlsruhe, Germany. 30th of September 2020 – His Excellency Marcel R. Tibaleka, Ambassador of Uganda in Germany received the Sustainability Certification on behalf of the Bank in Germany.
Uganda Development Bank Limited (UDB) and African Development Bank (AfDB) signed an agreement for funding worth USD 20 million. The signing ceremony took place at UDB’s Head Office at Rwenzori Towers, Nakasero.
Uganda Development Bank Limited (UDB) has released its financial and development impact performance for the year 2018. The announcement was made during a press briefing at the bank’s offices at Rwenzori Towers, Nakasero.
Fitch Rating, one of the top International Credit rating agencies worldwide based out of New York and London has assigned Uganda Development Bank Ltd (UDB) a Long-Term Issuer Default rating (IDR) of B+ with a Stable Outlook.
The Director Investments, Uganda Development Bank, Mr. Mahamoud Andama has today handed over Plant and Equipment the bank has financed worth USHS 9.125bn to Abubaker Technical Services and General Supplies Ltd.