UDB secures 40 million euros to expand financing for women and youth-led ventures ‎ -

The Uganda Development Bank has secured a 40 million euro credit line, approximately 169 billion shillings, from the French Development Agency to expand financing for enterprises across the country.

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‎The facility, which includes an additional 800,000 euros in technical assistance, is designed to strengthen the bank’s ability to provide long-term capital to high-growth sectors. The agreement was signed in Kampala by AFD Country Director Marc Trouyet and UDB Managing Director Patricia Ojangole, with French Ambassador Virginie Leroy in attendance.

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‎As the nation’s primary development finance institution, UDB targets sectors that commercial lenders often bypass due to perceived risks or extended maturity periods. The bank currently concentrates 75% of its portfolio on agriculture, agro-industrialization and manufacturing.

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‎Ojangole said the new funding will specifically target small and medium enterprises, as well as ventures led by women and youth in underserved regions.

‎Access to concessional and strategic funding is not merely about liquidity, Ojangole said. It is about leveraging the funds mobilized into measurable economic impact.

‎The injection of patient capital is expected to allow businesses to invest in machinery and climate-resilient infrastructure. Analysts suggest the move could catalyze private investment and boost export growth while reducing Uganda’s reliance on raw commodity exports.