In partnership with the European Union, the National Development Finance Institution, the Uganda Development Bank launched the second tourism facility worth over Ushs 62 billion as a recovery plan for tourism operators from COVID-19 devastating effects.

The total facility is made up of Ushs 40 billion ring-fenced funds from UDB and complemented by a grant of Ushs 21.8 billion from the European Union. A lenient criterion was adapted like incorporating the list of eligible expenditures the companies initiated to make tourism establishments more environmentally friendly.

The flexible facility offers a low interest repayable within five-year period with a two-year grace period. Legally registered businesses that have been in operation for at least two years will be considered, among others.

Read More: https://www.udbl.co.ug/udb-and-european-union-announce-2nd-tourism-facility/