U.S. and Swedish Governments Sign Agreement with Centenary Bank to Boost Lending to the Private Health Sector
U.S. Mission Uganda and the Embassy of Sweden today announced their first-ever joint Loan Portfolio Guarantee Agreement in Uganda. This joint Agreement, with Centenary Bank Uganda Limited, will significantly expand access to credit for the private health sector, and bring more affordable and high-quality medical care to more Ugandans.
Through this seven-year, $3 million Agreement, the U.S. Government in partnership with the Swedish Government will provide a partial loan guarantee to Centenary Bank. The Bank in turn will expand and diversify its loan portfolio to include rural private health providers. The program targets borrowers that privately own and operate small and medium-sized health-service enterprises, including pharmaceutical wholesalers, retail dispensaries, service-delivery franchisers, and private clinics and hospitals. It also provides personal loans for transportation, housing and education for rural health workers. This agreement will pave the way for critical investments in health that are important to Ugandan society.
In his remarks U.S. Ambassador Scott DeLisi said, “This program will allow Centenary Bank to provide low-risk loans to Ugandans seeking to offer health services to some of the nation's most vulnerable rural populations. The US and Sweden, in partnership with Centenary bank, believe this program will change lives and help develop the healthy society so important to achieving the goal of a prosperous and strong Uganda."
“The United States and Sweden support Uganda’s ambitions to reach middle-income country status by 2040, and acknowledge the key importance of the private sector to reaching this goal. That is why we are very pleased to announce this landmark joint Loan Portfolio Co-guarantee Agreement with Centenary Bank, which we believe will serve as a catalyst for further private investment in the health sector,” said Swedish Ambassador Urban Andersson.
For details, please contact:
Richard Sennoga, Development Outreach and Communications Specialist
Tel: +256 (414) 306 001 Ext. 6709
Cell: +256 (772) 221 735