The Uganda Development Bank (UDB) has allocated 612 billion shillings in 2022 for supporting SMEs across the country as they face new economic challenges. This is more than double the amount provided in 2021 and is being set aside for SMEs in sectors such as primary agriculture, agro-processing, tourism, manufacturing, infrastructure, human capital development, and others. Meanwhile, UDB’s Chief Economist Francis Mwesigye asserted that the bank would increase the number of businesses being supported to ensure better economic impact. Mwesigye also hoped the government would raise the capitalization funds for UDB in the coming years. In 2021, the disbursed funds had supported 190 business ventures.
