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Uganda Development Bank Limited
The Uganda Development Bank Limited (UDBL) is a government-owned development financial institution in Uganda.
UDBL which began operating in 1972, was the first development finance institution established by the government of Uganda. The main objective of UDBL is to promote and finance development in various sectors of the economy with particular emphasis on agriculture, industry, tourism, housing, and commerce.
In June 2018, the government negotiated for a $20 million (USh 76 billion) loan from the African Development Bank to capitalize UDBL, primarily to lend to the agricultural sector for mechanization and value addition. As of December 2024, the bank's loan portfolio was valued at USh 1.67 trillion (US$457.2 million), with total assets of USh 1.71 trillion (US$468.1 million).
UBDL was established in 1972. The political leadership in Uganda changed in 1979, and UDBL was then able to obtain large credits from external financiers, like the African Development Bank, the International Development Association, the European Investment Bank, the European Economic Community, the Organization of Petroleum Exporting Countries, and the Arab Bank for Economic Development in Africa (Banque Arabe pour le Développement Economique en Afrique) (BADEA). With these funds, UDBL's focus shifted to financing medium and long-term projects in agriculture, manufacturing, and tourism. Between 1997 and 2001, the bank was restructured, recapitalized, and re-organized as a limited liability company, wholly owned by the government of Uganda.
As of September 2013[update], the bank had re-organized and repositioned itself to play a larger and more visible role in Uganda's development finance. It has developed a medium-term recapitalization plan (2013-2017) that will increase shareholder's equity from the current USh 100 billion (US$40 million), to USh 500 billion (US$200 million).
Its growth plan has been streamlined to harmonize with Uganda's National Development Plan (NDP) and with Vision 2040. Vision 2040 aims to transform Ugandan society from a peasant population to a modern and prosperous country by the year 2040. Some of the development partners that UDBL is working with include the Kuwait Fund, the African Export-Import Bank, BADEA, and the Islamic Development Bank.
In June 2020, the Uganda Ministry of Finance, Planning and Economic Development, announced its intention of further increase its share capital in UDB from USh 500 billion (US$136 million) to USh 2 trillion (US$545 million). This is part of the bank's five-year strategic plan 2020–2024.
In March 2024, management revealed plans to establish five regional offices to take services closer to the bank's clients. The location of the regional offices include the following:
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Uganda Development Bank Limited
The Uganda Development Bank Limited (UDBL) is a government-owned development financial institution in Uganda.
UDBL which began operating in 1972, was the first development finance institution established by the government of Uganda. The main objective of UDBL is to promote and finance development in various sectors of the economy with particular emphasis on agriculture, industry, tourism, housing, and commerce.
In June 2018, the government negotiated for a $20 million (USh 76 billion) loan from the African Development Bank to capitalize UDBL, primarily to lend to the agricultural sector for mechanization and value addition. As of December 2024, the bank's loan portfolio was valued at USh 1.67 trillion (US$457.2 million), with total assets of USh 1.71 trillion (US$468.1 million).
UBDL was established in 1972. The political leadership in Uganda changed in 1979, and UDBL was then able to obtain large credits from external financiers, like the African Development Bank, the International Development Association, the European Investment Bank, the European Economic Community, the Organization of Petroleum Exporting Countries, and the Arab Bank for Economic Development in Africa (Banque Arabe pour le Développement Economique en Afrique) (BADEA). With these funds, UDBL's focus shifted to financing medium and long-term projects in agriculture, manufacturing, and tourism. Between 1997 and 2001, the bank was restructured, recapitalized, and re-organized as a limited liability company, wholly owned by the government of Uganda.
As of September 2013[update], the bank had re-organized and repositioned itself to play a larger and more visible role in Uganda's development finance. It has developed a medium-term recapitalization plan (2013-2017) that will increase shareholder's equity from the current USh 100 billion (US$40 million), to USh 500 billion (US$200 million).
Its growth plan has been streamlined to harmonize with Uganda's National Development Plan (NDP) and with Vision 2040. Vision 2040 aims to transform Ugandan society from a peasant population to a modern and prosperous country by the year 2040. Some of the development partners that UDBL is working with include the Kuwait Fund, the African Export-Import Bank, BADEA, and the Islamic Development Bank.
In June 2020, the Uganda Ministry of Finance, Planning and Economic Development, announced its intention of further increase its share capital in UDB from USh 500 billion (US$136 million) to USh 2 trillion (US$545 million). This is part of the bank's five-year strategic plan 2020–2024.
In March 2024, management revealed plans to establish five regional offices to take services closer to the bank's clients. The location of the regional offices include the following: