Overview:
The discussions also explored a potential new line of credit aimed at supporting Uganda’s sustainable development priorities through increased access to affordable financing.
WASHINGTON, D.C.: On the sidelines of the ongoing World Bank and IMF Annual Meetings, Uganda Development Bank (UDB) Managing Director, Dr. Patricia Ojangole, held a series of strategic meetings with key international development finance institutions to deepen collaboration and mobilize resources for Uganda’s socio-economic transformation.
Dr. Ojangole met with the delegation from the Kuwait Fund for Arab Economic Development, led by Ag. Director General H.E. Waleed Shamlan, where both sides reaffirmed their commitment to partner under UDB’s new Strategic Plan. The discussions also explored a potential new line of credit aimed at supporting Uganda’s sustainable development priorities through increased access to affordable financing.
In a separate engagement, UDB met with representatives from the OPEC Fund for International Development (OFID), including Vice President Public Sector Shaimaa Al-Sheiby and Director Latin America and The Caribbean Public Sector Strategy Luiscela Morena. Both parties agreed, in principle, to explore a fifth line of credit to support Uganda’s development agenda and enhance financial inclusion for critical sectors.
Dr. Ojangole also held discussions with the Private Infrastructure Development Group (PIDG), led by Chair Yukiko Omura. The talks focused on advancing infrastructure development, with particular emphasis on the power sector as a driver of industrialization and sustainable economic growth.
“These engagements underscore UDB’s commitment to strengthening partnerships with international development finance institutions,” Dr. Ojangole said. “By mobilizing strategic resources and affordable financing, we aim to accelerate Uganda’s socio-economic transformation and industrial development.”
The meetings reflect UDB’s proactive approach to leveraging global expertise and financial support to deliver on the country’s development priorities, from infrastructure and energy to inclusive growth initiatives across key sectors.