Image: Oxfam in Uganda
In a bid to grow local company participation in the East African Crude Oil Pipeline Technical Assistance project, the Government of Uganda and the African Development Bank (AfDB) have signed a $500,000 grant agreement to finance local micro-, small- and medium-sized enterprises (MSMEs).
Under the agreement, the AfDB will provide funding through the Fund for African Private Sector Assistance, which supports the Bank’s Private Sector Development Strategy via technical assistance and capacity building.
The project aims to facilitate access to new market opportunities by MSMEs; to foster linkages with larger, regional and international companies; and to generate approximately 500 local jobs along the pipeline.
Through the joint funding initiative, the AfDB and Ugandan Government aim to train at least 100 local micro-enterprises in Uganda and Tanzania in pipeline project business, as well as stimulate at least 70 local enterprise business transactions.