By KT Reporter
International and national development finance institutions are due to meet in Kampala, courtesy of the Uganda Development Bank, to discuss ways of overcoming the growing challenge of access to international finance.
This comes as global lenders and international development partners for Africa are increasingly either reducing their lending portfolios or redirecting their resources, leaving Uganda and other developing countries exposed to expensive commercial loans.
The Uganda Development Summit is aimed at serving as a platform for dialogue, knowledge sharing and partnership building, focusing on fostering growth, financing sustainable projects and addressing the challenges faced by national development banks.
UDB Managing Director, Patricia Ojangole, says bold decisions are needed to tackle the financing challenges that may affect Uganda and Africa’s growth projections.
Uganda’s economy grew at 6 percent in 2023/24, and the growth rate is estimated to have reached 6.2 percent in 2024/25, with projections of as high as 10.8 percent next financial year.
The two-day summit starting September 1, this year, will be hosted under the theme: “Transforming Africa Through National Development Finance Architecture”, and is expected to attract 400 participants, including government officials, policymakers, national and international development finance institutions, private sector and civil society leaders.
Ojangole says they expect that after the summit, partnerships will be forged with other institutions that will enable accelerated, sustainable growth, address urgent development priorities and chart a bold and practical forward-looking path for African economies.
Participants at the summit are expected to share and gain insights, discover innovative solutions and forge new partnerships as the summit focuses on and explores themes ranging from the Role of National Development Banks in Catalysing Socioeconomic Development to Financing Industrial Policy in Africa, Creating Agri-Value Chains and making SMEs work for Africa.
It will also consider the constraints and opportunities facing green financing and how to catalyse investment with blended financing, amongst others.
On why Uganda is hosting this summit, Ojangole says the country is well-positioned to lead this important continental conversation.
“Through Uganda Development Bank, the country has emerged as a model of development finance excellence, earning international recognition for its impactful results and strong governance,” she said.
She says the Bank’s strategic alignment with national development priorities, particularly the Third National Development Plan (NDP III) and Vision 2040, has enabled it to drive meaningful transformation across key sectors such as agriculture, industry, and services.
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