Uganda Development Bank Limited

The Uganda Development Bank Limited (UDBL) is a government-owned development bank in Uganda.[2]

Ugandan development financial institution
Uganda Development Bank Limited
Type Parastatal
Industry Finance
Founded 1972; 49 years ago (1972)
Headquarters First Floor, Rwenzori Towers
6 Nakasero Road, Nakasero
Kampala, Uganda
Key people
Felix Okoboi
Patricia Adongo Ojangole
Chief Executive Officer
Products Loans, equity partnerships, financial advisory services, management services, export/import finance
Revenue Aftertax:UGX:22.11 billion (US$6.3 million) (2020)[1]
Total assets UGX:1.089 trillion (US$310 million) (2020)[1]
Owner Government of Uganda
Number of employees
88 (2020)[1]
Website Homepage

. . . Uganda Development Bank Limited . . .

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.[2] As of December 2020, UDBL’s total assets were valued at UGX:1.089 trillion (US$310 million). At that time, shareholders’ equity was UGX:693.8 billion (US$197.4 million).[1]

In June 2018, the government negotiated for a $20 million (UShs76 billion) loan from the African Development Bank to capitalize UDBL, primarily to lend to the agricultural sector for mechanization and value addition.[3]

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).[4] With these funds, UDBL’s focus shifted to financing medium and long term projects in agriculture,[5] manufacturing, and tourism.[1] Between 1997 and 2001, the bank was restructured, recapitalized, and re-organized as a limited liability company, wholly owned by the government of Uganda.[6]

. . . Uganda Development Bank Limited . . .

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. . . Uganda Development Bank Limited . . .

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