By Infora Media
Prime Minister Robinah Nabbanja has restated government’s commitment to strengthening the capital base of the Uganda Development Bank (UDB) to enable it support Uganda’s socio-economic transformation.
The Prime Minister made the remarks on Friday at the National Leadership Institute (NALI) in Kyankwanzi during a ceremony where UDB staff completed a refresher training in patriotic and transformative leadership.
Hon. Nabbanja said government had already shown its support by allocating an additional Shs1 trillion to UDB in the current financial year. She noted that the funding will help the Bank expand its loan portfolio and better serve Ugandan businesses.
“Government recognises the important role UDB plays in financing development. We remain committed to strengthening its capital so that it can fully carry out its mandate,” she said.
She added that through UDB, government aims to build a strong group of Ugandan entrepreneurs who can drive economic growth, create jobs and increase household incomes.
The Prime Minister described UDB as a key institution in implementing national development programes such as the Tenfold Growth Strategy, the Fourth National Development Plan (NDP IV) and Vision 2040.
Hon. Nabbanja also praised UDB management for prioritizing leadership and ideological training for staff, saying effective development requires leaders who understand national values and priorities.
She further acknowledged the Bank’s contribution to job creation, tax revenue, foreign exchange earnings and improved business performance among supported enterprises.
The week-long training focused on strengthening leadership skills, national awareness and ideological understanding to help staff effectively deliver UDB’s development mandate.
Dr Patricia Ojangole the UDB Managing Director, said the training had helped staff better understand the Bank’s role in national development, especially as UDB implements its new five-year business strategy.
“Our strategy places greater focus on structuring projects, offering transaction advisory services and attracting development finance from both local and international partners,” Dr Ojangole said.
She added that the programe also provided insights into Uganda’s position in the global economy and how the Bank can support the country’s economic interests.
Dr Ojangole reaffirmed UDB’s commitment to supporting private sector growth and strengthening Uganda’s competitiveness despite global economic challenges.
NALI Director Col Okei Rukogota commended UDB for bringing all its staff together for ideological training, describing it as a rare but important step in building strong institutions.
The training covered topics such as national development priorities, the role of financial institutions in economic growth, national security issues, Uganda’s position in the global economy and effective methods of work.