German Investors partner with UDB to Finance Innovations

By Edwin Muhumuza

Finance Minister Matia Kasaija, has overseen the start of the signing of a series of pacts around cooperation and joint ventures anchored by German’s public and private sector entities worth millions of dollars.

Uganda’s Green growth development strategy, which aims at promoting sustainable financing, innovations, start-ups, and industrialization, has received an endorsement from a visiting German delegation.

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Uganda Development Bank(UDB) which has also signed an undertaking with Germany’s City of Karlsruhe, will be at the center of the financing projects around the Green Growth development strategy. Ugandan enterprises ought to reap from new cooperation of promoting and financing green growth sustainable development projects, being championed by Germany, says Finance Minister Matia Kasaija.

‘I also would like to call upon all Ugandans, companies, and institutions to seize this golden opportunity and build on the foundation we made when we visited Germany in order to make partnerships that will benefit our two countries’.Kasaija remarked.

‘The biggest now that am focusing on is Bukasa port with support from Germany to enable us to be able to load our cargo either via Dar es Salaam or Mombasa port.’he added.

The signing-off is to establish the German – Uganda Training and Research Centre for Renewable energies at Makerere University’s College of Engineering.

The Ambassador Dr. Albrecht Conze said that the cooperation between Uganda and Germany’s City of Karlsruhe is also expected to support Uganda’s national efforts in creating a modern, resilient and sustainable economy.’since this spirit of the invention is strong in the country.

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‘So I think it is very interesting because you also have a different landscape of enterprises of situations you need solutions for and it’s often better to go the way with small and medium-sized enterprises and not with the big players…’ according to the Dr Frank Mentrup, Mayor of Karlsruhe Germany.

For Private sector actors, the Uganda Development Bank will under the pact support interventions into projects in innovations, energy, industry and education among others.

The Managing Director, UDB, Patricia Ojangole said that at the end of it there will be lots of initiatives they will undertake and implement but all is towards help Uganda fast track its economic development Agenda.

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