Kampala — The East African Development Bank (EADB) has announced the establishment of a USD13 million fund dedicated to supporting youth and women-led enterprises across the East African region, in a move aimed at deepening inclusive financing in the region.
The Fund, unveiled during the Bank's Governing Council meeting held in Kampala recently is anchored in EADB's 2024-2028 Strategic Plan and the Bank's mandate to promote sustainable and inclusive socio-economic development among its member states.
The announcement comes as the Bank reported strong financial results, posting a 51% increase in profitability. Profit before tax rose to USD 16.93 million for the year ended December 2025, up from USD 11.20 million in the previous financial year.
EADB also recorded significant growth in its lending operations, with disbursements increasing by 140% and outstanding loans at the end of the year increasing by 52%, underscoring improved loan portfolio performance and operational efficiency.
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Speaking after the meeting, the outgoing Governing Council Chairperson, Matia Kasaija attributed the strong performance to the Bank's enhanced capacity to mobilize capital and deploy innovative financing solutions across diverse sectors.
"This strong performance is a testament to EADB's enhanced capacity to mobilize resources and deploy innovative financing solutions. In the past year, we supported a more diverse range of projects across key sectors in our member states. We remain committed to delivering on our five-year Strategic Plan as we grow our investment portfolio and deepen our developmental impact in the region" he explained.
The Council meeting was attended by Matia Kasaija, Uganda Minister of Finance, Planning and Economic Development and Chairman of the EADB Governing Council, Yusuf Murangwa, Rwanda Minister of Finance and Economic Planning and member of EADB Governing Council, John Mbadi Ng'ongo EGH, Kenya
Cabinet Secretary National Treasury and Economic Planning and member of EADB Governing Council, Amb. Khamis Mussa Omar, United Republic of Tanzania Minister of Finance and member of EADB Governing Council as well as members of the EADB Board of Directors.
In line with the Bank Charter, the meeting marked key leadership changes, where Yusuf Murangwa from Rwanda was confirmed as the new Chairperson of the Governing Council, succeeding Matia Kasaija from Uganda.
Uganda's Permanent Secretary at the Ministry of Finance, Planning and Economic Development, Ramathan Ggoobi, was appointed Chairperson of the Board of Directors for a two-year term, taking over from Tanzania's Ministry of Finance Permanent Secretary Natu Mwamba.
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Kasaija noted that the initiative to establish a dedicated fund to support youth and women-led enterprises reflects the Bank's recognition of the critical role youth and women play in driving the region's socio-economic transformation.
"We recognise that youth and women are critical drivers of economic growth and innovation across East Africa. The establishment of this Fund is a strategic step towards scaling enterprises led by these groups through prudent and targeted financing that will be channelled through EADB's partner financial institutions" Kasaija explained.
"While the bigger position of the Fund will be financed from the Bank's profits, we have instructed Management to continue with efforts to mobilise additional resources from development partners to grow its impact and ensure long-term sustainability."
