The Ugandan Bank, Finance Trust (FTB) has partnered up with Uganda Energy Credit Capitalization Company (UECCC}, to offer a solar energy loan worth $250,000, for the aim of assisting the financially disadvantaged Ugandans, gain access to electricity.
The loan product that has been given the name Solar Yange which means my solar will enable the bank customers to buy solar equipment for their households use or business establishments through the loan product offered by FTB.
The energy loan will cover the two districts of Lwengo and Gomba, which are both located at the in the central region of Uganda.
In the launch of the product to the media in the previous week the Managing Director Dennis Kakeeto, emphasized on the benefits of the products to the customers, and made an emphasis on its benefit towards improving the health and well being of the customers.
He said that “The Solar Yange loan product will not only provide a clean source of energy to our clients. The product is environmentally friendly, because the majority of Ugandans use biofuels which are very dangerous to peoples’ lives due to the smoke emitted.
“FTB is committed to reducing poverty, protecting the planet by enabling its customers, access to solar equipments which doesn’t harm the environment.”
The loan is a second of its own to be offered by the bank, the first was the $500,000, which was obtained after the bank had secured a concession loan two years ago from UECCC.
The UECCC is a government agency under the Ministry of Energy and Mineral Development. Its mandate is to provide a reliable frame work for pooling resources from government, Investors and Development partners and to channel the same viable renewable energy projects.
The UECCC Managing Director Specioza Kimera said that UECCC is committed to ensure that Ugandans have an access to clean energy.
She further added that they will continue to partner up with the private sector, to ensure that they participate in the energy sector by proving both financial as well as technical support.