KAMPALA, Uganda, Mar 18 – The East African Development Bank (EADB) is considering expanding private sector lending and corporate social investments to drive job creation, particularly for youth and women.
During its Governing Council meeting in Kampala, attended by Finance Ministers from Uganda, Kenya, Tanzania, and Rwanda, EADB highlighted its $50 million SME support program, which has created over 18,000 jobs in the past five years.
Kenya’s Treasury Cabinet Secretary John Mbadi emphasized the urgent need to integrate youth employment into economic planning, noting Kenya’s high unemployment rate.
Tanzanian Finance Minister Dr. Mwigulu Nchemba stressed the importance of financial self-reliance, while Rwanda’s Finance Minister Yusuf Murangwa underscored the role of strong local institutions in regional development.
EADB Chairman Dr. Charles Mwamwaja announced plans for a new communication strategy to boost the bank’s visibility and expand private sector engagement.
The Council also commended EADB’s recent “A” rating from S&P Global Ratings and urged management to sustain and improve the bank’s credit standing.
The next Governing Council meeting is set for 2026 in Kigali, Rwanda.
