Monday March 29 2010

Ecobank set to promote agriculture in Amuru

By Walter Wafula

At least 7000 farmers in Amuru District will benefit from agricultural financing services provided by Ecobank Uganda when the bank sets up a new branch in the district this year.

The bank in partnership with the United States Agency for International Development (USAID) through its Livelihoods and Enterprises for Agricultural Development (LEAD) Project have agreed to establish the first branch in Amuru district, according to a statement from the bank.

The two companies last week signed an agreement to facilitate the establishment in a unique cost sharing deal through which USAID has undertaken to provide Ecobank a grant worth Shs469 million.

“Ecobank is seen as a viable partner by virtue of its extensive experience in dealing with Small and Medium Scale Enterprises (SME) in addition to their plan to expand the bank’s network to Amuru district and beyond, which currently has no any commercial bank branches,” Mr Dele Alabi said in a news statement recently.