ITFC extends $10m to advance development objectives in Uganda
An Islamic Development Bank (IsDB) member has granted a trade finance facility to a Uganda-based lender to advance development objectives in the country.
The International Islamic Trade Finance Corporation (ITFC), a IsDB member, has extended a $10 million trade finance line to the Uganda Development Bank to bolster industrialization efforts in the country and assist with job creation and poverty reduction endeavours, Saudi Press Agency reported.
The International Monetary Fund (IMF) has projected a 5.6% GDP growth for Uganda for this year, and an almost 1 percentage point increase for next year.
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