More export funding for Uganda

The United Kingdom plans to increase funding for export credit to Uganda, from £300 million (Shs1.35 trillion) to £600 million (Shs2.7 trillion). Lord Dolar Popat, the British Trade Envoy to
Uganda, announced the plan at a breakfast meeting held for United Kingdom (UK) business community in Uganda. The new export finance support is made available through UK Export Finance (UKEF), the UK Government’s export credit agency which provides competitive finance for UK exports. Popat said Uganda will have great access to UK trade finance, and pave way for more UK investors to bring their expertise, products and services to Ugandan projects. Britain is heavily invested in Uganda through sectors like agriculture and banking but analysts say the attest development could pave way for infrastructure projects between the two nations.

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editor@independent.co.ug