Browsing: Funds for MSMEs in Uganda

AFDB supports Uganda's MSMEs in the petroleum sector

The government of Uganda and The African Development Bank signed an agreement worth $500,000 to finance Micro, Small and Medium Enterprises (MSMEs) so as to boost business linkages on the East African Crude Oil Pipeline Technical Assistance project.

The bank will contribute the funds through the Fund for African Private Sector Assistance (FAPA) while the Government of Uganda through the Petroleum Authority will provide counterpart funding. A similar project is also being finalised in Tanzania.

The key objective of the grant is to help develop the capacity of local Uganda MSMEs along the East African crude oil pipeline by helping them to build linkages with larger, national, regional and international companies as well as accessing new market opportunities.

The project aims to create an estimated 500 jobs along the pipeline and support inclusive private sector growth.

According to the African development bank, “the grant was provided in response to a …