EADB showcases clients’ success
Sep 01, 2003
THE East African Development Bank (EADB) is committed to promoting the socio-economic development in the three countries of the East African Community through financing viable ventures,
THE East African Development Bank (EADB) is committed to promoting the socio-economic development in the three countries of the East African Community through financing viable ventures, reports Doreen Kansiime.
Godfrey Tumusiime, the bank’s Director General said this last week, while showing journalists some of EADB’s client’s projects in Uganda.
These included Ugachick Poultry Breeders Limited, Green Hill Academy, Garden City and the Grand Imperial Hotel.
“The bank is equally committed to contributing to the deepening, strengthening and development of the financial sectors of the East African countries in addition to it’s traditional role of funding projects in a broad range of sectors,†Tumusiime said.
EADB, which pioneered the issuing of bonds in the three countries, is also actively engaged in boosting the region’s capital markets.
It is currently working with the National Social Security Fund in arranging for the $50m Uganda Fund which will be the country’s first sovereign equity and venture capital fund promoted by Uganda Securities Exchange Limited. Tumusiime said EADB was also looking into the difficulties facing by smaller businesses.
Enterprises (SMEs) in accessing institutional credit the bank is now considering setting up an SME credit guarantee program.
Hope fully the programme will provide incentives and credit risk mitigation to commercial banks to substantially increase lending to SMEs, which they realize are important to the economies of the three countries.
The bank is also paying increasing attention to the energy sector because of its critical role in development.
Tumusiime revealed that EADB is already financing one major project in electricity transmission in Kenya and added that the bank was willing to partner with other financial institutions to fund the implementation of the East African energy master plan that proposes to inter connect the electricity grid lines of the three countries.
Godfrey Tumusiime, the bank’s Director General said this last week, while showing journalists some of EADB’s client’s projects in Uganda.
These included Ugachick Poultry Breeders Limited, Green Hill Academy, Garden City and the Grand Imperial Hotel.
“The bank is equally committed to contributing to the deepening, strengthening and development of the financial sectors of the East African countries in addition to it’s traditional role of funding projects in a broad range of sectors,†Tumusiime said.
EADB, which pioneered the issuing of bonds in the three countries, is also actively engaged in boosting the region’s capital markets.
It is currently working with the National Social Security Fund in arranging for the $50m Uganda Fund which will be the country’s first sovereign equity and venture capital fund promoted by Uganda Securities Exchange Limited. Tumusiime said EADB was also looking into the difficulties facing by smaller businesses.
Enterprises (SMEs) in accessing institutional credit the bank is now considering setting up an SME credit guarantee program.
Hope fully the programme will provide incentives and credit risk mitigation to commercial banks to substantially increase lending to SMEs, which they realize are important to the economies of the three countries.
The bank is also paying increasing attention to the energy sector because of its critical role in development.
Tumusiime revealed that EADB is already financing one major project in electricity transmission in Kenya and added that the bank was willing to partner with other financial institutions to fund the implementation of the East African energy master plan that proposes to inter connect the electricity grid lines of the three countries.