Minister of Finance Mr Matia Kasaija. FILE PHOTO
The Trade and Development Bank (TDB) is an
important institution that is likely to complement other banks such as
the African Development Bank and East African Development to provide
development capital, the Minister of Finance has said.
development capital, the Minister of Finance has said.
Speaking
ahead of the bank’s 34th Annual General Meeting conducted at the
weekend, Mr Matia Kasaija said the bank has supported more than 12
transactions in Uganda in the sectors of banking and financial services
(60.6 per cent), manufacturing and heavy industries (25.7 per cent), and
agribusiness (4.5 per cent).
Other sectors, according to Mr Kasaija include real estate, health services, telecommunication, and infrastructure.
The Trade and Development Bank, which was established in 1985, is a multilateral financial institution with a balance sheet of about $4b (Shs14.821.trillion).
The Trade and Development Bank, which was established in 1985, is a multilateral financial institution with a balance sheet of about $4b (Shs14.821.trillion).
Mr Kasaija said the bank has
also been instrumental in funding public sector projects with injection
of more than $200m (Shs741b).
Uganda, he said, has been benefiting through a revolving facility to finance pre-approved equipment purchases, vendor payments by way of issuance and confirmation of letters of credit, guarantees and direct cash disbursement.
The bank, according to Ms Mary Kamari, the executive director, corporate affairs and investor relations, made a profit of $112m representing a 12 per cent growth.
Uganda, he said, has been benefiting through a revolving facility to finance pre-approved equipment purchases, vendor payments by way of issuance and confirmation of letters of credit, guarantees and direct cash disbursement.
The bank, according to Ms Mary Kamari, the executive director, corporate affairs and investor relations, made a profit of $112m representing a 12 per cent growth.
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