For some reasons which include tedious bureaucracy, UDB is stuck with 44 billion shillings which it wants to lend to tour operators at 8%, which is extremely low by Ugandan standard. Ugandans are used to 20 plus interest rates which in reality mount to 25% because of different fees banks charge the borrowers, including ridiculous ones like forcing the customer to pay insurance for the risk the bank is taking.<\/p>\n\n\n\n
A special facility launched 18 months ago for Covid -19 impacts relief was supplemented by a grant from EU which cut the borrowing rate to an incredible 8% from 12%. The UDB had put up Sh40bn to which the EU added Sh22bn, bringing the whole facility to sh62bn, and forcing the interest rate down to 8% per annum.<\/p>\n\n\n\n
But the tour operators only borrowed Sh18bn of this, leaving a whole sh44bn lying idle. Some 94 companies applied for the facility but only 44 qualified. This was less than half of the applicants. Reasons for the failure to lend\/ borrow included the rigorous bureaucratic requirements that customers in Uganda are required to fulfill.<\/p>\n\n\n\n
But now UDB says it has relaxed the requirements, and keeps the basic ones such as the borrower having been in the business for at least two years, having at least five employees and being committed to green environmental practices.<\/p>\n","protected":false},"excerpt":{"rendered":"
For some reasons which include tedious bureaucracy, UDB is stuck with 44 billion shillings which it wants to lend to<\/p>\n","protected":false},"author":1,"featured_media":5678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[65],"tags":[],"class_list":["post-5677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/bank.jpg","jetpack-related-posts":[{"id":5706,"url":"https:\/\/prowebinhost.com\/anzu\/uganda-development-bank-ltd-offers-grants-and-soft-loans-with-8-interest-to-businesses-in-the-tourism-sector-battered-by-covid-19-pandemic\/","url_meta":{"origin":5677,"position":0},"title":"UGANDA DEVELOPMENT BANK LTD OFFERS GRANTS AND SOFT LOANS WITH 8% INTEREST TO BUSINESSES IN THE TOURISM SECTOR BATTERED BY COVID-19 PANDEMIC","author":"UgandaUpdate","date":"May 20, 2022","format":false,"excerpt":"By Our Senior Reporter Uganda Development Bank Ltd (UDBL), the country\u2019s national Development Finance Institution, in partnership with the European Union, has announced a special call for eligible businesses in the tourism sector to apply for and receive up to Shs1 billion in grants and soft loan with flexible terms\u2026","rel":"","context":"In "National Development"","block_context":{"text":"National Development","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-development\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/udb-scaled.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/udb-scaled.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/udb-scaled.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/udb-scaled.jpg 2x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/udb-scaled.jpg 3x"},"classes":[]},{"id":15273,"url":"https:\/\/prowebinhost.com\/anzu\/president-museveni-opens-the-inaugural-uganda-development-finance-summit-calls-for-africa-integration-and-economic-self-reliance\/","url_meta":{"origin":5677,"position":1},"title":"President Museveni Opens The Inaugural Uganda Development Finance Summit ,Calls For Africa Integration And Economic Self Reliance","author":"MOSES SSERWANGA","date":"September 2, 2025","format":false,"excerpt":"By Our Reporters in Munyonyo President Yoweri Museveni commended UDB for convening the inaugural Uganda development finance Summit and urged African leaders to intensify efforts to deepen economic and political integration, noting that the fragmentation of African markets undermined the continent\u2019s competitiveness and appeal to investors.\u00a0 \u00a0Museveni has emphasized the\u2026","rel":"","context":"In "National News"","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/09\/unnamed.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/09\/unnamed.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/09\/unnamed.jpg 1.5x"},"classes":[]},{"id":15005,"url":"https:\/\/prowebinhost.com\/anzu\/uganda-to-host-major-development-finance-summit\/","url_meta":{"origin":5677,"position":2},"title":"Uganda To Host Major Development Finance Summit","author":"UgandaUpdate","date":"July 28, 2025","format":false,"excerpt":"The Uganda Development Bank (UDB) is convening the inaugural Uganda Development Finance Summit. UDB is the country\u2019s national Development Finance Institution (DFI). The highly anticipated Summit, scheduled for 1-2 September 2025 at the Speke Resort Convention Centre, Kampala, Uganda, will proceed under the theme,\u00a0\"Transforming Africa through National Development Finance Architecture.\u201d\u2026","rel":"","context":"In "National News"","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/07\/UDB44.jpg","width":350,"height":200},"classes":[]},{"id":1443,"url":"https:\/\/prowebinhost.com\/anzu\/banks-put-on-notice-employees-will-no-longer-be-held-liable-for-salaried-loans-if-wrongful-dismissed-from-their-jobs\/","url_meta":{"origin":5677,"position":3},"title":"BANKS PUT ON NOTICE EMPLOYEES WILL NO LONGER BE HELD LIABLE FOR SALARIED LOANS IF WRONGFULLY DISMISSED FROM THEIR JOBS.","author":"MOSES SSERWANGA","date":"July 8, 2020","format":false,"excerpt":"BY OUR SPECIAL LEGAL CORRESPONDENT Uganda\u2019s Court of Appeal has passed a landmark decision that could curtail commercial banks\u2019 notorious practice of hawking \u2018salaried loans\" for white and blue-collar workers. In their majority decision ,the\u00a0 Court of Appeal has upheld a judgement that was handed out by the Industrial Court\u2026","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/business-national-news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7545,"url":"https:\/\/prowebinhost.com\/anzu\/all-government-departments-should-buy-eletric-buses-president-museveni\/","url_meta":{"origin":5677,"position":4},"title":"ALL GOVERNMENT DEPARTMENTS SHOULD BUY ELETRIC BUSES-PRESIDENT MUSEVENI","author":"UgandaUpdate","date":"December 7, 2022","format":false,"excerpt":"President Yoweri Museveni has once again directed that all government\u00a0 departments should purchase electric buses as one of the ways to reduce costs associated\u00a0 with high fuel prices. Mueveni said Uganda is now set to transition\u00a0from \u00a0fossil fuels to E-mobility to reduce pollution and offer an organized -cheap transport solution\u2026","rel":"","context":"In "National Development"","block_context":{"text":"National Development","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-development\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/kuse.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/kuse.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/kuse.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/kuse.jpg 2x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/kuse.jpg 3x"},"classes":[]},{"id":5716,"url":"https:\/\/prowebinhost.com\/anzu\/electricity-connectivity-is-a-key-government-priorityenergy-ministry-permanent-secretary-eng-batebe-assures-afdb-mission\/","url_meta":{"origin":5677,"position":5},"title":"ELECTRICITY CONNECTIVITY IS A KEY GOVERNMENT PRIORITY;ENERGY MINISTRY PERMANENT SECRETARY ENG. 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Irene Batebe has stated . \u201cThis includes a\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/prowebinhost.com\/anzu\/category\/energy\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/bate.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/bate.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/bate.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/05\/bate.jpg 2x"},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/pc0aOV-1tz","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/5677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/comments?post=5677"}],"version-history":[{"count":1,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/5677\/revisions"}],"predecessor-version":[{"id":5679,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/5677\/revisions\/5679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/media\/5678"}],"wp:attachment":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/media?parent=5677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/categories?post=5677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/tags?post=5677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}