UDBs net loans expanded to UGX1.47 billion in 2023, reflecting robust support to the private sector. The Bank strengthened its commitment to providing affordable and patient capital, achieving significant milestones amidst economic challenges.
The results, released during the Annual General Meeting held at the Ministry of Finance, Planning, and Economic Development, reflect a sustained effort to facilitate economic recovery.
The meeting was attended by the Banks shareholders, the Finance Minister, Hon. Matia Kasaija, and the Minister of State Planning, Hon. Amos Lugoloobi, who was appointed proxy to represent the Minister of State for Privatisation and Investment, Hon. Evelyn Anite. Also in attendance were officials from the Office of the Auditor-General and the Ministry of Finance, the Banks Board of Directors, and Executive Management.
GrowthAccording to the UDB Managing Director Ms. Patricia Ojangole, in 2023, the Bank approved UGX691.8 billion and disbursed UGX610 billion, demonstrating a dedicated approach to supporting private business growth.
UDB remains committed to fostering inclusive economic growth through strategic investments in sectors that drive sustainable development and job creation across Uganda. Our focus on key priority sectors underpins our mission to deliver high socio-economic value and support Ugandas long-term development goals, she said.
