Luxembourg, 11/10/2006 (Agence Europe) - On 11 October, the European Investment Bank signed a €10 million credit line agreement with DFCU Ltd, to cover leases for the financing of leasing transactions in Ugandan Shillings. The first tranche covering leases for about 50 small enterprises has now been released.
Launched in 1964 as a Ugandan development finance institution, DFCU Ltd has since transformed itself successfully into a commercial provider of term finance, focusing in particular on smaller and medium-sized enterprises, many of which are in up-country locations. Its products include loans, leasing and mortgage finance. The EIB's credit line provides DFCU with long-term financial resources enabling it to provide lease finance in Ugandan Shillings. This is the EIB's second credit line granted to DFCU in the framework of the Cotonou Agreement, under which the EIB finances private investment and provides long-term finance to the financial sector. (ol)