{"id":24480,"date":"2022-01-12T15:38:24","date_gmt":"2022-01-12T15:38:24","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=24480"},"modified":"2022-01-12T15:33:37","modified_gmt":"2022-01-12T15:33:37","slug":"260000-businesses-to-benefit-from-world-bank-project","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project","title":{"rendered":"260,000 businesses to benefit\u00a0from World Bank project"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>About 260,000 Micro, Small and Medium Enterprises (MSMEs) in Uganda will benefit directly from the Investment for Industrial Transformation and Employment project. Of these, 40,000 should be women-led micro enterprises, following the the World Bank Group\u2019s approval of $200 million to Uganda.<\/p>\n

Officials involved in the project said larger-size firms will also benefit indirectly, for instance, from financing that will mitigate the risks associated with late payment and nonpayment.<\/p>\n

Mitigating Covid-19 effects<\/b><\/p>\n

The World Bank approved financial aid to help government mitigate the effects of Covid-19 on private sector investment and employment and support new economic opportunities, including in refugee and hosting communities.<\/p>\n

The money is in form of grants and soft credit which attracts no interest rates on payment with a grace period as well.<\/p>\n

Approving the financial in Washington DC in late December 2021, the World Bank said of this amount that has been approved, $96 million (Shs338.6b) is a credit line from the International Development Association (IDA) while $104 million (Shs367b) is an IDA grant, of which $50 million (Shs176b) is from the Window for Host Communities and Refugees.<\/p>\n

The Investment for Industrial Transformation and Employment (INVITE) project has four components: mitigating the impact of Covid-19, with a focus on the manufacturing and exporting sectors that are driving economic transformation; creating new productive and transformative assets that seek to mitigate the financial sector\u2019s risk aversion; thereby improving the availability of credit to MSMEs and providing longer-term finance for productive investments.<\/p>\n

[email protected]<\/b><\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. About 260,000 Micro, Small and Medium Enterprises (MSMEs) in Uganda will benefit directly from the Investment for Industrial Transformation and Employment project. Of these, 40,000 should be women-led micro enterprises, following the the World Bank Group\u2019s approval of $200 million to Uganda. Officials involved in the project said larger-size firms will also […]<\/p>\n","protected":false},"author":84,"featured_media":24479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-24480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\n260,000 businesses to benefit\u00a0from World Bank project - Uganda<\/title>\n<meta name=\"description\" content=\"About 260,000 Micro, Small and Medium Enterprises (MSMEs) in Uganda will benefit directly from the Investment for Indust ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"260,000 businesses to benefit\u00a0from World Bank project\" \/>\n<meta property=\"og:description\" content=\"About 260,000 Micro, Small and Medium Enterprises (MSMEs) in Uganda will benefit directly from the Investment for Indust ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-12T15:38:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/01\/img-61def4b731815.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"260,000 businesses to benefit\u00a0from World Bank project\",\"datePublished\":\"2022-01-12T15:38:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project\"},\"wordCount\":262,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/01\/img-61def4b731815.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/260000-businesses-to-benefit-from-world-bank-project\",\"name\":\"260,000 businesses to benefit\u00a0from World Bank project - 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