GROW project: Gov’t to create zones for fair distribution of funds
The GROW project is a Government of Uganda initiative aimed at supporting women entrepreneurs who seek to grow their businesses, sustain their self-employment, and create more jobs
FORT PORTAL CITY, November 15, 2024 – The Government of Uganda is considering zoning the country to facilitate a fairer distribution of funds under the World Bank-funded Generating Growth and Opportunities for Women Enterprises [ GROW ] project, which is worth US$217 million [approximately Shs 800 billion].
The Minister of Gender, Labour and Social Development, Betty Amongi, disclosed this plan during a consultative meeting with leaders from Tooro and Bunyoro Kingdoms in Fort Portal City earlier this week.
Minister Amongi explained that although the six commercial banks accredited to participate in the project have reduced interest rates to 10 per annum, the funds are predominantly being accessed by businesswomen in the central region of Uganda, specifically in Kampala, Masaka, Mukono, and Wakiso districts.
“From the first phase of disbursement, we observed that the majority of the funds were borrowed by women from Kampala, Masaka, Wakiso, and Mukono, leaving other regions at a disadvantage,” Amongi said. “This issue needs to be addressed by allocating the funds regionally, or by creating zones for more equitable distribution.”
Data shows that approximately 60 percent of the GROW funds were disbursed to businesses in the central region, primarily Kampala, Masaka, Mukono, and Wakiso.
The participating banks in the GROW project include Centenary Bank, Postbank, DFCU, Finance Trust, and Equity Bank.
“When I presented this issue to the Cabinet, His Excellency President [Museveni] advised that the next round of disbursements should divide the country into 19 zones,” Amongi revealed. “This will ensure that funds are distributed more equitably across the regions.”
The GROW project is a Government of Uganda initiative aimed at supporting women entrepreneurs who seek to grow their businesses, sustain their self-employment, and create more jobs. The Project Development Objective (PDO) is to increase access to entrepreneurial services, enabling women to expand their enterprises in targeted locations, including refugee-hosting districts [RHDs].
The project employs a “wrap-around” approach, which includes a package of integrated services under four main components. These services are designed to empower women entrepreneurs to scale their businesses from micro to small, or from small to medium enterprises, while also enhancing their overall productivity.
The project’s implementation involves four key components, each with specific subcomponents aimed at addressing the unique needs of women entrepreneurs who can now borrow between Shs 4-200 million to expand their enterprises .
https://thecooperator.news/govt-procures-motorcycles-for-grow-project-implementation/
Buy your copy of thecooperator magazine from one of our country-wide vending points or an e-copy on emag.thecooperator.news
Views: 2
