KAMPALA, Friday, April 17, 2020 – Bank of Uganda (BoU) in its Monetary Policy Statement of April 06, 2020, made reference to credit relief measures to mitigate the adverse effects of the COVID-19 pandemic, ensuring financial sector stability, and facilitating the financial intermediation process during this pandemic period.
The credit relief measures contained herein, do not eliminate the debtor’s obligation to repay borrowed funds. Furthermore, these credit reliefs are to be extended to borrowers of Commercial Banks, Credit Institutions, and Microfinance Deposit Taking Institutions (MDIs) supervised and licensed by BoU. The allowable credit relief measures and terms thereof include:-
Bank of Uganda assures the public of its commitment to safeguard financial sector stability. The application of these credit relief measures shall be monitored, and BoU stands ready to issue additional measures as risks from the COVID-19 pandemic evolve. For more information, please contact the Director, Communications Department via telephone +256(0)414258441/6 OR e-mail firstname.lastname@example.org AND email@example.com.
Adam Mugume (PhD)
For: Deputy Governor