Source : UDB
Members of UDB’s Board and Management pose with Mukhtar Babayev (centre), Presidential Representative for Climate Issues and President COP29 on the sidelines of the IsDB Group Meetings
Uganda Development Bank (UDB) delegation participated in the 2026 Islamic Development Bank (IsDB) Group Annual Meetings in Baku, Azerbaijan, under the theme “Regional Integration for Sustainable Prosperity.”
The meetings held between June 16 and 19 brought together member countries, development finance institutions, policymakers, investors, export credit agencies, and private sector actors to deliberate on emerging development challenges and opportunities.
The delegation from UDB included; Geoffrey Kihuguru, Board Chairman; Dr. Patricia Ojangole, Managing Director; Associate Prof. Rachael Mindra, Board Member; Samuel Edem-Maitum, Director Credit; and Joshua Allan Mwesiga, Director Strategy & Corporate Affairs.
L-R: Mwesiga, Nazeem Noordali, Chief Operating Officer (ITFC), Dr. Ojangole, Hamady Soma Ba, Division Manager Private Sector Trade Finance (ITFC) and Edem-Maitum during the IsDB Meetings in Baku.
Participation in the Meetings yielded significant strategic value for the Bank. Beyond providing a platform to strengthen existing partnerships within the IsDB Group and its associated companies, the engagements opened new opportunities for resource mobilization, institutional capacity enhancement, risk-sharing arrangements, trade finance expansion, export development, and climate-focused financing.
The delegation held various strategic engagements with numerous institutions including; Arab Bank for Economic Development in Africa (BADEA), Islamic Corporation for Development of the Private Sector (ICD), IsDB Concessional Fund (ICF), International Islamic Trade Finance Corporation (ITFC) and Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
The Ugandan delegation (on the right) led by Permanent Secretary Ministry of Finance, Ramathan Ggoobi meets with the team from the Arab Bank for Economic Development in Africa (BADEA) during the IsDB Meetings in Baku.
Engagements were also held with Government of Azerbaijan, Turk Exim Bank, IsDB Regional Management as well as Uganda’s Ministry of Finance, Planning and Economic Development (MoFPED).
Existing partners, including BADEA, ITFC and ICD, commended the Bank’s strong governance, prudent financial management, efficient utilization of facilities, and measurable development impact.
The 2026 IsDB Annual Meetings delivered significant strategic value to UDB. The engagements not only reinforced existing partnerships but also unlocked opportunities for additional capital mobilization including innovative risk-sharing solutions, and institutional strengthening.
The mission also further enhanced UDB’s visibility and credibility among key international development finance institutions and positioned the Bank to play an increasingly central role in mobilizing resources for Uganda’s economic transformation.
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