Finance officials quizzed over Shs500b Covid cash

Daily Monitor
Thursday April 15 2021
Summary
But MPs on the Finance Committee asked Finance minister Matia Kasaija why UDB was lending the money to city businessmen instead of lending it to manufacturers in agro-business sector, private schools and hospitals that were hit badly by Covid-19.
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Officials from the Ministry of Finance yesterday came under fire from lawmakers who are investigating alleged misallocation of Shs500b Covid-19 stimulus package.
The money in question was channelled through the Uganda Development Bank (UDB) for access in form of loans to the private sector.
But MPs on the Finance Committee asked Finance minister Matia Kasaija why UDB was lending the money to city businessmen instead of lending it to manufacturers in agro-business sector, private schools and hospitals that were hit badly by Covid-19.

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