History
UDB was established 1n 1972 by government decree. The period between 1972 and 1979 was characterized by the extension of medium term loans to small-scale enterprises on a limited basis. The sourcing of funding was constrained by adverse economic conditions locally and by the inability to obtain International funding by the prevailing Ugandan authorities during that period.
The political leadership in Uganda changed in 1979 and Uganda Development Bank was able to obtain large credits from external financiers, like AfDB, IDA, EIB, EEC, OPEC and BADEA. With these funds, UDB’s focus of activities shifted to financing medium and long term projects in agriculture, manufacturing and tourism. Between 1997 and 2001 the bank was restructured, recapitalized and re-organized as a limited liability company, wholly owned by the Government of Uganda.
Read more about this topic: Uganda Development Bank
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