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

UDB Managing Director Patricia Ojangole addresses stakeholders

KAMPALA — 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.

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.

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.

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.