Industry Resources

European Union supports Uganda Eco Friendly efforts with 30M Euros Grant

BY PAUL TENTENA

KAMPALA, UGANDA- The European Union has earmarked 30million euros grant to support enterprises in Uganda that are Eco- inclusive or promoting a green economy.

During the Practitioner Lab on Climate Finance and SEED National Dialogue Forum that were held in Kampala, Cedric Merel the European Union envoy to Uganda said such platforms are very important to create awareness about green economies to Small and Medium Enterprises around the world.

“The EU is determined to fight Climate Change around the world by having planned green cities and supporting enterprises that are promoting green economies.

“We put up a grant of 100million euros in the Feed Project and 30Million in particular to the SWITCH Africa Green multi-country project in Burkina Faso, Ghana, Kenya, Mauritius, South Africa and Uganda,” said Merel.

The two events, the Practitioner Lab on Climate and SEED National Dialogue Forum brought  together stakeholders from the private-, public- and social sectors to collaborate on how to most effectively support eco-inclusive business development and direct financing to these enterprises as they start-up and scale-up.

In the Practitioner Lab Climate Finance, around 50 representatives from financial institutions, investors and banks showcased measures how to transform challenges into innovative financial products as a result of a highly interactive and innovative co-creation process.

“Well-designed climate financial products help to supply finance to climate-smart enterprise by reducing risks, enhancing expected financial returns or bridging existing infrastructure gaps.

“The Lab catalyses this process by drawing on experience and expertise from practitioners to identify, prototype, and design the next generation of climate finance products,” said Jonas Rosette of SEED.

The Uganda National Dialogue Forum brought together about 100 enterprises, financial institutions, policy-makers and business development service providers to develop approaches and fortify partnerships that capitalise on the success of eco-inclusive enterprises.

Dr. Joshua Mutambi, the Commissioner for Marketing and Processing in Uganda’s Ministry of Trade urged people to be mindful of the environment by saving energy, applying solar energy, planting more trees and promoting energy efficiency stoves.

“Don’t use energy any how save energy, avoid plastic packaging if you can to save the environment,” said Mutambi.

Participants were  offered with an opportunity to actively engage and jointly design instruments that promote, finance and replicate successful eco-inclusive business models.

Thriving enterprises that have established profitable eco-inclusive businesses across sectors were allowed to showcase their success stories.

This is all part of the implementation of “Financing and capacity building for micro and small climate-smart enterprises: Filling the gap of the missing middle”, a project supported by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety via the International Climate Initiative (ICI) and of “Promoting Eco-Entrepreneurship in Africa”, a SWITCHAfrica Green multi-country project in Burkina Faso, Ghana, Kenya, Mauritius, South Africa and Uganda.