What is Small Business Recovery Fund?
The Small Business Recovery Fund is also a
partnership between the Government of Uganda, Bank of Uganda, commercial banks,
credit institutions, Micro-finance deposit-taking institutions and SACCOs
regulated by Bank of Uganda; all collectively known as Participating Financial
Institutions, to provide financing to small businesses outside the agricultural
sector, particularly those that have experienced financial challenges due to
the COVID-19 pandemic.
This fund operates under a risk-sharing
agreement, where both the Government of Uganda and the Participating Financial Institutions
contribute 50% each toward the total project cost for borrowers.
This fund supports all small businesses that
have the potential to facilitate loan repayments, as well as projects that are
not eligible for financing through the Agriculture Credit Facility.