Mps task UDB to account for SMEs, women & youth cash

Mps have tasked the Government of Uganda (GoU) to present a value for money report in regard to several billions of shillings that has been channeled through Uganda Development Bank (UDB), to scale up lending to SMEs, women, youth-affiliated businesses, and green projects in Uganda.

Led by the northern region member of parliament Okoty Boniface Okot, lawmakers have since asked the government for a status report on the financial and economic impact performance of UDB , the country’s national development finance institution’s special credit project to the youth and women led enterprises across the country.

Okot, during the Tuesday plenary sitting of parliament chaired by the deputy speaker of parliament Thomas Tayebwa stated that in 2021 UDB launched this programme targeting youth, women and SMEs but its impact is not felt by the targeted groups .

Okot said that the government should be told to table before parliament the list of the beneficiaries and the regional equity of this special credit programme.

He said that UDB should publicize this programme across the country to access such financial support for their businesses.

The deputy speaker Thomas Tayebwa asked the ministry of finance to produce the report on this matter within two weeks as requested by the government chief whip Hamson Obua.