Uganda Development Bank (UDB) has officially launched its Eastern Regional Office in Mbale City, a strategic move aimed at boosting financial inclusion and supporting economic development across Eastern Uganda.
The office, located at Plot 1, Masaba Road, will serve as a hub for sub-regions including Elgon, Teso, Bukedi, Busoga, and Karamoja. It is set to strengthen UDB’s ability to provide both financial and advisory services to local businesses, from agriculture to industry, tourism, and infrastructure projects.
“Establishing a regional presence reinforces the Bank’s mandate as Uganda’s National Development Finance Institution and enhances our ability to unlock investment opportunities across the country,” said Dr. Patricia Ojangole, UDB Managing Director.
“Eastern Uganda presents enormous economic potential. UDB sees opportunities to boost agricultural productivity, improve transport infrastructure, and expand tourism,” she added.
The office will support private sector projects with significant socio-economic impact, including agro-industrialization, manufacturing, health, education, technology, and extractive industries.
Muhammad Mafabi, Mbale District Chairperson, welcomed the expansion, highlighting its potential to transform regional agriculture and empower farmer groups.
“Eastern Uganda depends heavily on agriculture, with coffee as the main cash crop. While organized farmer groups exist, limited access to modern processing facilities reduces coffee quality. UDB’s Eastern Office offers affordable credit, technical support, and financial literacy programs to improve productivity and income,” Mafabi said.
Manufacturers will also benefit from long-term financing options, with loan tenors of up to 15 years to support working capital, machinery acquisition, and business expansion. Mafabi urged entrepreneurs to utilize funds responsibly to ensure sustainability and wider access.
Previously, UDB operated offices in Kampala, Gulu, and Hoima. The Bank is now expanding with additional regional offices in Mbale, Arua, and Mbarara to improve service delivery and deepen financial inclusion nationwide.
In 2025, UDB’s total assets grew 24 percent, rising from Shs 1.75 trillion to Shs 2.28 trillion, driven by new funding of Shs 438 billion from lines of credit and government contributions. During the same period, the Bank approved 120 projects, projected to create 33,610 jobs, generate Shs 5.2 trillion in output, Shs 2.76 trillion in profits, Shs 918.7 billion in corporation tax, and Shs 2.79 trillion in foreign exchange.
With this expansion, UDB aims to strengthen its role as a catalyst for socio-economic growth, supporting businesses and communities to unlock the full potential of Uganda’s Eastern region.
