The Intra-African Trade and Export Development Bank (AfreximBank) and the Uganda Development Bank (UDB) have signed an agreement of financing in Nassau, Bahamas.

La Joint Project Preparation Facility (JPPF) signed between Afreximbank and according to Kanayo Awani, Executive Vice President of Afreximbank, the UDB is an essential collaborative tool through which the Bank and its partners pool their resources to prepare bankable projects, given that one of the main challenges in project development was to bring commercially viable projects to financial closure. According to him, thanks to this partnership, Afreximbank style="font-family: "Bookman Old Style”, "serif">intends to work alongside the UDB to prepare quality and bankable projects in order to attract public and private sector investments. She also said that the JPPF will play a key role in catalyzing and mobilizing downstream investments. For his part, Samuel Edem Maitum, Credit Director at UDB, said that UDB's collaboration with AfreximBank through the joint project preparation mechanism “will unlock several transformative projects led by the private and public sectors. Collaboration will also allow for the flow of capital to jointly prepared projects.”