Uganda Development Bank to offer subsidised loans interest rates to women
Male domination of the entrepreneurial arena in Uganda is likely to slow down, after Uganda Development Bank (UDB) confirming its decision to offer specialized financing solutions to women engaged in business.
Uganda Development Bank Limited has established a new financial strategy to improve its support towards Small and Medium Enterprises, Youth and Women engaged in business within the priority growth sectors of the economy including; Agriculture, Agro-processing and Manufacturing among others.
On November 17th, 2021, the same bank signed a memorandum of understanding (MoU), with Uganda Women Entrepreneurs Association Limited (UWEAL), amongst whose terms was to avail over two million women in Uganda, with financing and business advisory services to support their business initiatives.
Under the new strategy, borrowers can access funding as low as Shs.50 million.
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