Gulu, Uganda | ENTEBBENEWS.NET | Uganda Development Bank (UDB), the country’s Development Finance Institution (DFI) has recently launched its inaugural regional office situated in Gulu City aimed at serving Northern Uganda.
Situated along Lower Church Hill Drive, the Gulu City office will act as a liaison point for all the districts that constitute Northern Uganda and will enhance the Bank’s reach in serving the financial and non-financial needs of the business community in Northern Uganda.
“Launching the Northern Uganda office is a significant milestone in our journey as UDB. The expansion of our presence in this fast-growing and vibrant region underscores our commitment to serving the people of Uganda, providing them with easier access to our comprehensive range of products, services, and interventions,” Patricia Ojangole, the managing director of UDB said on Nov.24.
The office will support projects within the private sector that demonstrate the potential to deliver high socio-economic value, in the areas of Primary Agriculture, Industry (to include agro-industrialization, manufacturing, knowledge-based industries, and extractives), and Services (health, tourism, and hospitality, education, science, technology, and innovation) and Infrastructure.
“UDB’s journey has always been fostered by our unique mandate as a catalyst for Uganda’s socio-economic development. We have come a long way, and today, we take yet another significant step in our mission to deliver this mandate,” Ojangole added.
While officiating the launch of this office, the state minister For Northern Uganda, Hon. Grace Kwiyucwiny, said the arrival of UDB in the region ushers in a great promise and opportunities for the region.
“I want to extend my warmest congratulations to the Bank on this significant milestone and officially welcome them to our vibrant and dynamic community. I also urge entrepreneurs, farmers, and the business community in the region to take full advantage of the services UDB offers. Let’s work together to make the most of this opportunity and continue the remarkable transformation of Northern Uganda,” Kwiyucwiny said.
Beyond banking and financial services extended, UDB also contributed Shs 35 million to the Gulu Regional Referral Hospital towards the construction of a waiting shade for maternity patients and 200 Mama kits for new and expectant mothers in the hospital during a Corporate Social Responsibility Initiative.
The Gule office becomes the second physical office for the development institution that plans to open several other branches in cities across the country.