Prime Minister Robinah Nabbanja, has reaffirmed government's commitment to strengthening the capital base of Uganda Development Bank (UDB) to enable the Bank to fully deliver on its mandate of accelerating Uganda's socio-economic transformation.
The Prime Minister made the remarks on Friday while officiating at a ceremony where UDB staff were passed out after completing a refresher training in patriotic and transformative leadership at the National Leadership Institute (NALI) in Kyankwanzi.
"As you are aware, the Government allocated an additional shs1 trillion to UDB in the current financial year. We recognise the need to further expand the Bank's loan portfolio and are committed to strengthening its capital base to enable it fully deliver on its mandate," Nabbanja said.
She added that through institutions such as UDB, Government intends to create a strong class of Ugandan entrepreneurs to drive socio-economic transformation.
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Nabbanja described UDB as a strategic institution in the implementation of Government's Tenfold Growth Strategy, the Fourth National Development Plan (NDP IV), and Vision 2040.
"I appreciate UDB for prioritising this training for its staff. This commitment demonstrates your appreciation of the importance of nurturing leaders who are grounded in the values and vision that guide our country," she said.
She also acknowledged the socio-economic impact created by the Bank through job creation, tax contribution, foreign exchange generation, and improved enterprise profitability.
The training programme focused on deepening ideological clarity, strengthening national consciousness, and enhancing leadership capacity to effectively deliver UDB's mandate of financing Uganda's long-term socio-economic transformation in line with national development priorities.
Speaking at the ceremony, the UDB Managing Director, Dr. Patricia Ojangole, said the training provided staff with valuable insights that deepen their understanding of UDB's mandate and its role in advancing national transformation.
"The skills and knowledge acquired at NALI have reinvigorated our team as we implement UDB's new five-year business strategy, which places greater emphasis on structuring, transaction advisory, and crowding in development finance from both local and international sources," Dr. Ojangole said.
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She added that the training offered deeper insight into Uganda's strategic position in the current global order and the country's economic interests.
"UDB is committed to providing the right financial instruments and products to strengthen Uganda's participation and competitiveness in the global economy," she said, further stressing the Bank's commitment to supporting the private sector to grow and remain resilient amid volatile global dynamics.
The training comes at a time when UDB has commenced the second year of implementing its new five-year business strategy, anchored on taking on a greater role in structuring, transaction advisory, and crowding in development finance from various local and international sources to finance investments in the country.
The Director of NALI Kyankwanzi, Col. Okei Rukogota, applauded UDB's leadership for its commitment to ideological grounding and institutional cohesion.
"It is rare to see an institution bring all its staff together for ideological regeneration. We commend UDB's leadership for this exemplary commitment," Col. Rukogota said.
The week-long training covered areas including the role of ideology and political education, national development priorities, the role of financial institutions in building a competitive economy, addressing national security priorities, Uganda's strategic positioning in the current global order, and transformative methods of work.
