Djeddah – Kampala, October 2, 2025 – The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group (IsDB), has successfully disbursed a financing of 30 million US dollars to Uganda Development Bank Limited (UDBL).
This strategic financing marks ICD’s first financing operation in Uganda and the East Africa region, representing a significant step in its efforts to support the development of the private sector in its sub-Saharan African member countries.
Structured as a Murabaha of commodities, ICD’s financing is expected to enable local small and medium-sized enterprises (SMEs) to access medium and long-term financial resources to finance productive investments.
The Ugandan sectors of agribusiness, education, investment in fixed assets (including equipment, machinery, etc.), manufacturing industry, and health are expected to benefit from major financial support through this disbursement, thus promoting tangible progress in economic growth, job creation, and sustainable development.
This historic transaction paves the way for future collaborations between ICD and local financial institutions in Uganda, further strengthening ICD’s commitment to promoting inclusive and resilient private ecosystems in its member countries.
