Alex Lwanja, the Deputy Director in charge of the Agricultural Credit Facility and Small Business Recovery Fund at the BoU, reports that over UGX. 150 billion is idle due to the low uptake of the facility from the targeted population. Lwanja said that although they have disbursed UGX. 751 billion to farmers across the country, and very few farmers from Teso are seeking or taking up the money
The loan facility is to help the Government to extend access to high speed internet in selected areas that, improve efficiency in digital service delivery in selected public sector and strengthen digital inclusion of selected host communities and refugees.
"We have consulted our client regarding the court's ruling. Our client has informed us that he is not willing/interested in being added to the suit as an interested party," says the statement from BOU counsel, David Mpanga. "Accordingly, we write to the same court informing it of the same," Mpanga said.
The Bank forecasts that the financial year 2020/2021 will see some growth of between 2.0-3.0 percent, which could to increase to up to 6.0 percent in 2021/22.
