The bank says Uganda needs 3-4 billion dollars for climate finance in the next ten years but that money is not flowing as expected. It says the private sector has contributed only 26 million dollars or 3.4%.
Green finance is structured financial product created to ensure a better environmental outcome and a more resilient future. The product provides credit for agribusiness ventures, offers guarantee to the agribusiness loans and promotes Environmental, Social and good Governance (ESG) practices in the financial services sector.
Disan Muwanga, a Food and Agricultural Researcher and Chairperson of Matooke Growers Association in Greater Masaka Region says the current situation demands that farmers revive the growing of traditional food crops that are known for supporting communities through times of famine resulting from long droughts.
Andy Zhao, the Deputy Projects Manager of Hunan Roads and Bridge Construction Group Company limited; a firm that was subcontracted to execute the works says they have failed to progress at their planned speed due the heavy flooding of the construction route.
Muyingo had planted beans on three acres of land, which dried-up shortly after the seeds started germinated. The farmers say they expected the rains to increase in April, but to their disappointment the area has had nothing.
