Uganda Development Bank (UDB) has won the Outstanding Business Sustainability Achievement Award in the Karlsruhe Sustainable Finance Award 2025 at this year’s Global Sustainable Finance Conference in Germany.
Dr. Patricia Ojangole, Managing Director, Uganda Development Bank, received the award on Thursday, September 25, during the Global Sustainable Finance Conference, which ran from September 25 to 26 in the city of Karlsruhe in Germany.
The Global Sustainable Finance Conference (GSFC) 2025, now in its 15th year, is a global forum focused on innovating banking and finance for a sustainable world. The conference distinguishes itself through its exclusive focus on highly practical, implementation-ready, and breakthrough solutions rather than general discussions.
The Sustainable Finance Awards recognize financial institutions and Presidents/CEOs that have made significant contributions to the field of sustainable banking and finance. The awards recognize financial institutions that have successfully integrated economic, social, and environmental sustainability into their organizational culture. They also honor organizations that have made outstanding contributions in the field of sustainable finance, as well as acknowledging and recognizing presidents and CEOs who have distinguished themselves as leaders in sustainable banking and finance.
In addition, the Awards stimulate the interests of financial institutions and other stakeholders in integrating sustainability in their business strategy. They also promote the growth of sustainable financial instruments and markets worldwide and the holistic integration of sustainability in financial institutions.
The citation announcing the winner of the Outstanding Business Sustainability Achievement Award 2025 described UDB as “a driving force for inclusive and sustainable growth” in Uganda.
“Established as the country’s national development finance institution, the bank plays a critical role in transforming key sectors such as agriculture, industry, infrastructure, and services by providing long-term, patient capital where it is most needed. UDB’s impact extends far beyond financial support – it is about creating opportunities, enhancing food security, boosting manufacturing, and promoting the services sector,” adds the citation.
The Award recognizes UDB’s success in holistically embracing sustainability across the organization and demonstrating excellence in delivering impact.
This award category demands that the performance of the institution is monitored and assessed throughout the year and UDB’s commitment to sustainable development, its role in boosting the economy, and its ability to grow its balance sheet while ensuring socio-economic outcomes have been exemplary.
UDB is also the globally recognized leader in sustainability and a role model Sustainability Certified Financial Institution.
Commenting on the achievement, Dr. Ojangole said, “UDB is honored to be recognized with the Sustainable Finance Award 2025. This is a significant milestone for UDB as it positions the Bank as a key player in creating an inclusive, green, and sustainable Ugandan economy.”
“The Bank remains committed to prioritizing and mainstreaming holistic sustainability in its practices, promoting this approach, and inspiring all other stakeholders to raise awareness of sustainable development,” Dr. Ojangole added.
In 2024, the Bank’s Managing Director, Dr. Ojangole, won the Sustainability Leader of the Year Award at the Karlsruhe Sustainable Finance Awards, for the fourth year running. The Bank was also awarded the Sustainability Standards and Certification Initiative (SSCI) Version 2, Level 5 certification, which is the highest level of the SSCI ratings.
Prior to this, the bank received its initial certification in July 2020. This made the Bank the first sustainability-rated Bank on the continent and one of the first five globally to consistently be rated an A+ institution by the Association of African Development Financial Institutions (AADFI) as a Best Performing development finance institution.
These achievements are a testament to UDB’s strong governance structure for delivering social, economic, and environmental sustainability and taking climate action through its financial and non-financial services. By excelling in adapting holistic standards and undergoing a rigorous compliance process, the Bank has built a strong organizational capacity in mobilizing, lending, and investing funds for high sustainable impact.
Conceived in 2009 in the aftermath of the global financial crisis, the Global Sustainable Finance Conference has been held annually since 2011. It is one of the oldest and well-established premier international platforms in the world for discussing true sustainable banking and finance, and is very distinctive from general events in the field of sustainability and sustainable banking and finance.
In its initial years, the GSFC focused on sensitizing the financial community about sustainable financing. Now in its 15th year, the GSFC has evolved as a forum for developing and sharing solutions to implement true sustainability and combat greenwashing. The conference now attends to state-of-the-art practical solutions rather than general information, discussions, or presentations.
Meanwhile, Uganda Development Bank Limited (UDB) is the country’s national Development Finance Institution (DFI) with a mandate to accelerate socio-economic development in Uganda through sustainable financial interventions.
Consistent with this mandate, the Bank supports projects within the private sector that demonstrate the potential to deliver high socio-economic value, in terms of job creation, improved production output, tax contribution, and foreign exchange generation, among other outcomes. These projects fall within the key priority sectors of our economy and are in line with Uganda’s development priorities.
Uganda Development Bank (UDB) aligns its sector priorities with National Development Plan IV (NDP IV), focusing on Primary Agriculture, Industry (to include agro-industrialization, manufacturing, knowledge-based industries, and extractives), Services (health, tourism, and hospitality, education, science, technology, and innovation), and Infrastructure.
Agriculture, agro-industry, and manufacturing constitute about 75% of the Bank’s portfolio in alignment with the government’s focus under NDP III and Vision 2040.
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