The top leadership of Development Finance Institutions will gather in Uganda from January 23rd to 24th, 2024 in a move towards promoting sustainable development in Africa. The purpose of this assembly is to benchmark on Uganda Development Bank’s (UDBL) success in embracing rigorous Sustainability Standards, a crucial aspect of achieving world-class corporate governance and addressing social, economic, and environmental impacts, including climate change.
Organized by the African Association of Development Finance Institutions (AADFI) in collaboration with the European Organisation for Sustainable Development, the benchmarking visit will provide an opportunity for Uganda to showcase its commitment to global sustainable development standards. Cyril Okoye, the Secretary General of AADFI, highlighted that UDB will present its compliance with the latest version of Sustainability Standards, demonstrating its pivotal role in revolutionizing agriculture, industrialization, and the services sector.
UDB’s success in implementing Sustainability Standards Version 1.0 and its progress towards the more rigorous Version 2.0 positions it as a focal point in sustainable banking and finance. Patricia Ojangole, the Managing Director of UDB, expressed the bank’s readiness to share its experiences during the 2-day Executive Visit. Discussions will cover governance and management, digitalization, products, human capital, stakeholder engagement, risk, and climate change.
The bank’s dedication to sustainability has earned it recognition from AADFI and the global community, with three consecutive Sustainability Leader of the Year awards at the Karlsruhe Sustainability Awards in Germany. However, UDB sees this as just the beginning and is actively working towards compliance with the comprehensive Sustainability Standards Version 2.0, positioning itself as a force in fast-tracking Uganda’s journey towards full development, industrialization, and climate-friendly practices.
