Uganda: European Investment Bank grants €13 million line of credit to supports SMEs

Nov 06, 2014

The European Investment Bank has extended a €13 million line of credit to Uganda's Housing Finance Bank to boost lending to small and medium-sized enterprises (SMEs).

The European Investment Bank has extended a
€13 million
line of credit to Uganda's Housing Finance Bank to boost
lending to small and medium-sized enterprises (SMEs).

The funding will be restricted to firms in the manufacturing, agriculture, and tourism sectors, considered critical for economic growth, job creation and reduction of poverty in the country.

"We are delighted to deepen our partnership with the EIB in supporting the development of SMEs in various sectors of the economy," said Housing Finance Managing Director Mathias Katamba
in a press release.

EIB's vice-president Pim van Ballekom added that small businesses need to invest to create jobs and explore new business opportunities.

The loan facility is the second lending programme between the EIB and Housing Finance Bank, with a €3.5 million line of credit set up in 2010 to finance 48 projects.ADNFCR-2976-ID-801758704-ADNFCR