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The Government of Uganda is lobbying the World Bank to release additional funds for the Generating Growth Opportunities and Productivity for Women Enterprises (GROW) Project to meet the soaring demand.
Dr Ruth Aisha Biyinzika Kasolo, the Project Coordinator, says women entrepreneurs have faced challenges in accessing loan funds from selected banks.
Kasolo explained that the agreements signed with participating financial institutions are valid for two years, commencing in June 2024 when the banks were officially onboarded.
The World Bank allocated a total of UGX 120 billion to support the project over the two-year period, and as such, only UGX 60 billion was released for the current financial year, which has since been fully disbursed.
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Kasolo revealed that demand for the loans far exceeds the funds available, creating major bottlenecks.
For example, she says, Centenary Bank received UGX 6 billion for disbursement, but loan applications to the bank total approximately UGX 13 billion—more than double the available funds.
This discrepancy has left many women entrepreneurs unable to access the credit needed to grow their businesses.
In light of this, the government is lobbying the World Bank to frontload the remaining funds for the second year of the project.
Kasolo emphasised the urgent need to increase the annual disbursement beyond UGX 60 billion to meet the high demand and ensure that more women entrepreneurs can benefit from the programme.
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Dr Ruth Aisha Biyinzika Kasolo, the Project Coordinator
Project’s Impact and Partner Banks
The project is implemented by the Ministry of Gender, Labour, and Social Development in partnership with the Private Sector Foundation Uganda (PSFU), and funded by the World Bank.
Its primary goal is to empower women entrepreneurs, particularly those in marginalised and underserved communities, through access to finance, training, mentorship, and business development services.
The loan disbursement component of the project is facilitated through six commercial banks, including Centenary Bank, PostBank, Finance Trust Bank, Dfcu Bank, and Equity Bank Uganda.
These banks are responsible for providing affordable credit to women-led enterprises, enabling them to expand their operations, sustain self-employment, and create jobs.