UDB ANNUAL PERFORMANCE: Profits, loan book grows
Businesses in Uganda have over 300 billion shillings in borrowing support from the Uganda development bank and the lender says, the line of credit will be disbursed in the next six months to enterprises hurt by the current economic slowdown. This is as government aims to tackle slowing growth as a result of trade disruptions, in part brought about by global economic shocks and now a sharp rise in commodity prices. Patricia Ojangole the bank's chief executive says in the pipeline is 612 bn shillings earmarked for lending. The lender's net loans grew by Shs 781.7billion, up from Shs 511.9billion in 2020.
