EADB Partner Meeting at Serena Hotel
The East African Development Bank (EADB) held a significant partner meeting at the Kampala
Serena Hotel on February 10, 2025. This gathering was organized to engage stakeholders and discuss the bank’s impact on the Ugandan economy while updating them on its overall mandate. The meeting was attended by key figures, including Uganda’s Finance Minister, Matia Kasaija, who also serves as the Chairperson of the EADB Governing Council.
Key Discussions and Themes
During the meeting, Minister Kasaija emphasized the importance of affordable interest rates for businesses seeking capital. He urged EADB to implement strategies that would lower these rates, thereby enabling more enterprises to access necessary funding for expansion and investment in critical sectors such as infrastructure, agriculture, manufacturing, and energy. These sectors are vital for Uganda’s long-term economic growth and prosperity. Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury at the Finance Ministry, echoed Kasaija’s sentiments by highlighting that increasing private sector borrowing is essential for driving economic growth and job creation. He pointed out that EADB plays a crucial role in supporting government initiatives aligned with national development strategies.
Financial Contributions and Impact
EADB executives reported that over the past five years, the bank has disbursed more than USD 200 million (approximately Shs 734.8 billion) across Kenya, Uganda, Tanzania, and Rwanda through its lending operations. This financial support has led to the creation of over 110,000 jobs in various sectors. Notably, nearly half of these jobs were awarded to women, showcasing EADB’s commitment to inclusivity. In Uganda specifically, EADB has advanced Shs 209.4 billion to Micro, Small, and Medium Enterprises (MSMEs), which are crucial for economic stability and innovation. The financing programs have created approximately 35,850 jobs within this sector alone.
Future Directions
Looking ahead, EADB plans to invest in economically viable and environmentally sustainable projects under its 2024-2028 Strategic Plan. These projects will align with member states’ national priorities as well as the United Nations Sustainable Development Goals (SDGs). The focus areas include industrialization and manufacturing, infrastructure development, agriculture and agri-processing, social services enhancement, climate change mitigation efforts, and environmental management. The meeting concluded with a strong emphasis on enhancing financial access for SMEs through strategic partnerships with financial institutions to foster socio-economic development across Uganda and the broader East African region.
