Uganda Development Bank enters Gulu city   

Uganda Development Bank (UDB), the country’s Development Finance Institution (DFI) has unveiled 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.

Patricia Ojangole, the Managing Director said on Nov.24: “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,”

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.

The development institution has only been operating with one physical office in Kampala, the capital city. Executives said, more branches will be opened in other cities across the country in the future.