President Yoweri Museveni has announced a significant government injection of Shs 1.6 trillion into the Uganda Development Bank (UDB), saying the move is aimed at strengthening financing for productive sectors of the economy.
He said the funding is intended to expand access to affordable capital for manufacturers and large-scale farmers, who play a central role in driving industrial and agricultural growth.
Addressing the nation during the State of the Nation Address at Kololo Ceremonial Grounds, Museveni emphasized that government support is being structured differently depending on the size and nature of economic activity.
He noted that while large enterprises will benefit through institutions like UDB, smaller household businesses continue to receive support through targeted initiatives such as the Parish Development Model (PDM).
The President further stated that government remains flexible in reallocating resources across programmes to ensure adequate funding reaches priority areas, depending on demand and absorption levels.
Museveni also highlighted that additional special funds exist for various groups, including youth in informal sectors, musicians, and other grassroots entrepreneurs, insisting that access to capital is being broadened across all levels.
He reiterated that the administration’s economic strategy is centered on transforming citizens into wealth creators, adding that national development planning has been guided by this long-term objective.
The President also cited progress in Uganda’s economic transformation, noting increased participation in the money economy, projected growth trends, and expectations of further expansion as the country moves toward commercial oil production.
