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UDB wows law makers in quest for UGX 1.8 trillion funding

A re-capitalization plan worth $500 Million dollars or approximately 1.8 Trillion shillings by Uganda Development Bank UDB, to be sourced from multilateral lenders has today been shared with Members of Parliament. Denis Ochieng, UDB’ s Acting Managing Director, says the additional capital being sought  through Sovereign guarantees; is needed so as to serve numerous  pipeline projects in need of capital which stands at 240 Billion shillings as of October 2019.

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