African Development Bank and Uganda sign finance agreement

The African Development Bank (ADB) and the government of Uganda have signed a $500,000 grant agreement for financing of micro, small and medium enterprises (MSMEs) to boost business links on the East African crude oil pipeline technical assistance project.

The project’s overall objective is to help develop capacity of local Ugandan MSMEs along the $3.5bn East African crude oil pipeline by enabling them to access new market opportunities and build links with larger, national, regional and international companies.

The ADF will contribute $500,000 to the project, with the Ugandan government providing counterpart funding. A similar project is being finalised on the Tanzanian side of the border.