In a significant boost to Uganda’s micro-business sector, EIB Global has partnered with Centenary Bank to provide financing to over 24,000 micro-businesses. This initiative is expected to enhance the country’s economic growth and job creation. The financing package is designed to support small-scale entrepreneurs, particularly in the agricultural and trade sectors, by providing them with access to affordable credit. Centenary Bank, one of Uganda’s leading commercial banks, will act as the intermediary for the disbursement of funds. The partnership between EIB Global and Centenary Bank is a testament to the growing collaboration between international financial institutions and local banks to promote economic development in Africa. The funding is also expected to have a positive impact on the livelihoods of thousands of Ugandans, who rely on micro-businesses for their daily income. With this financing, entrepreneurs will be able to expand their businesses, increase their production capacity, and create new job opportunities. The Ugandan government has also welcomed this initiative, as it aligns with its efforts to promote economic growth and reduce poverty. The partnership is a clear demonstration of the potential for international cooperation to drive economic development in Africa.
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