Uganda Injects 1 Trillion Shillings into Development Bank
The Story
The Ugandan government has allocated an additional one trillion shillings to the Uganda Development Bank this financial year. Prime Minister Robinah Nabbanja announced the capital injection on Friday during a graduation ceremony for bank officials in Kyankwanzi. The move is intended to lower the cost of credit and bolster the bank’s ability to fund large-scale private sector projects.
Perspective
The announcement was reported by PML Daily from Kyankwanzi. The source article states the capital injection is intended to lower the cost of credit and bolster the bank’s ability to fund large-scale private sector projects. Prime Minister Robinah Nabbanja made the announcement.
Why This Matters
This matters because the allocation is intended to lower the cost of credit for borrowers. It is also intended to bolster the Uganda Development Bank's ability to fund large-scale private sector projects.
What's Next
No specific future events are mentioned in the provided source article.