Bank of Uganda targets people who have moved abroad

Nov 14, 2012

The Bank of Uganda is looking to secure money from people from the country who now live abroad.

The Bank of Uganda is looking to secure money from people from the country who now live abroad.

A joint study with the UN Development Programme is being carried out to see what factors might encourage them to invest in the Ugandan Diaspora bond, reports the Independent.

This could in turn help to generate funds that support the country's national development in the coming years.

Jan Tibamwenda, director of communications at the Bank of Uganda, commented: "The viability, amount of money and any other related information shall be ascertained when the study is completed."

He confirmed that when the study has come to an end, the Bank will contact the Ugandan government to discuss issuing a Diaspora bond "if it is found to be feasible".

Commenting on the plans, the Independent said they recognise the "economic clout" that Ugandan nationals who live and work across the globe now hold in the country's economy today.

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