French agency, Pearl Bank finalize plans for sh64 billion boost to Ugandan agriculture

Pearl Bank and the French Development Agency (AFD) have formalized a significant partnership aimed at injecting Sh64 billion (approximately €16 million) into Uganda's agricultural sector. This collaboration is set to bolster micro, small, and medium enterprises (MSMEs) within the country's vital farming industry.

The agreement comprises a concessional credit line of €15 million (Sh60 billion), designed to provide accessible financing for agricultural businesses. Complementing this financial support is an additional €1 million (Sh4 billion) allocated for technical assistance. This dual approach seeks to not only fund growth but also enhance the capacity and sustainability of Ugandan agricultural MSMEs.

The French Ambassador expressed optimism about the initiative's potential impact during the finalization of the plans. The partnership signifies a substantial commitment to agricultural development in Uganda, with the funds expected to stimulate economic activity and improve livelihoods in the sector. The collaboration between Pearl Bank and AFD highlights a strategic effort to strengthen the agricultural value chain through targeted financial and technical support.