Uganda Development Bank (UDB) and European Union (EU) Announced Second Tourism Facility
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.