EU programme trains 1,000 refugees, Ugandans in financial skills
Kampala, Uganda (PANA) – Over 1,000 refugees and Ugandans living in refugee-hosting areas have received training in key business and financial skills over the last two weeks with the view of improving their capacity to sustain themselves.
The training is supported by the European Union (EU) through the European Investment Bank, the world’s largest international public bank, in partnership with Centenary Bank, Uganda’s leading commercial microfinance bank.
It drew participants from the districts of Isingiro, Kamwenge, Hoima, Masindi, Adjumani, Arua, Koboko, Yumbe and Kampala, the capital.
Speaking at the close of the training earlier on Tuesday, Ms Anna Merrifield, Chargée d'affaires of the European Union Delegation to Uganda, said: “Uganda has shown leadership and compassion welcoming people displaced from neighbouring countries. The European Union welcomes the pro-active engagement of Ugandan, European and international partners to strengthen financial inclusion and private sector activities in communities welcoming refugees.”
Uganda hosts about 1.3 million refugees and asylum seekers from South Sudan, DR Congo, Rwanda, Burundi, Eritrea, Ethiopia and other countries, making it the third biggest refugee hosting country in the world.
Because it is a poor country, with a per capita income of labour $660, there are concerns regarding the ability of the country to support its 40 million people and the refugees, and this initiative is one of the responses to address the concern.
Mr. Fabian Kasi, the managing director of Centenary Bank, the implementing partner on the programme, said about the programme: “Enabling all Ugandans and people living in Uganda to access financial services is crucial for economic prosperity in this country. Reaching out to refugee communities is already improving business skills and financial literacy and ensuring better use of mobile banking technologies that reflects Centenary Bank’s commitment to financial inclusion. We value the contribution of all Ugandan and international partners involved with this unique initiative.”
The European Investment Bank, the long-term lending institution of the European Union, makes long-term finance available for sound investment in order to contribute towards EU policy goals.
Since 2007, the European Investment Bank has made available Euros 1 billion for private sector investment in East Africa through credit lines in both local and international currency in partnership with 40 banks and financial institutions active in Uganda, Kenya, Tanzania and Rwanda.
This was to support new investment by entrepreneurs and companies active in trade, agri-business, fishing, food processing, manufacturing/ industry, construction, transport, tourism, and services.
Euros 193 million of new financing programmes availed by the institution has been made available through 11 Ugandan financial institutions, which includes more than Euros 28 million of financing for small and medium sized companies and microfinance beneficiaries in Uganda through Centenary Bank.
-0- PANA EM/VAO 28May2019
