The government has introduced Generating Growth Opportunities and productivity for Women Enterprises (GROW) project in Jinja District, targeting individual women in business.
According to State Minister for Gender Labour and Social Development in-charge of Persons with Disabilities, Ms Hellen Asamo, under this project women shall access funds at lower interest rate.
The GROW project was extended to Jinja by the Ministry of Gender, Labour and Social Development in collaboration with the World Bank where funds shall be given to entrepreneurial women at a rate of 10 percent annually.
The World Bank-funded Generating Growth Opportunities and Productivity for Women Enterprises Uganda project, that is being promoted locally under the acronym GROW, is designed to increase access to entrepreneurial services that enable female entrepreneurs to grow their enterprises in targeted locations, including host and refugee communities.
It was launched by President Museveni in March during the Women's Day celebrations in Katakwi District in eastern Uganda.
The project, funded by the World Bank, is being promoted as the magic bullet to socioeconomic empowerment of women.
Under this project entrepreneurs shall be supported with millions of cash ranging between Shs4 to Shs200 million to boost their businesses.
Minister Asamo revealed that this is a four-year project worth $217 million (Shs846bn), including $40 million (Shs146bn) earmarked for refugees and host communities.
In company of other members of Parliament representing persons with disabilities they are calling upon their electorate to embrace this project for socioeconomic transformation.
"This is the first project targeting only women in business, we have had other projects UWEP but they were targeting all women and they get little money but we are optimistic that this one shall help to empower women," Asamo said.
She added that in collaboration with other stakeholders, they're training all beneficiaries in financial literacy to enable them manage the resources well.
Laura Kanushu, the national MP for PWDs, welcomed the GROW project since the guidelines exclude the local government officials who have been mismanaging the previous programmes.
"This is a hands off program for Chief Administrative Officers, town clerks, community development officers, parish chiefs among other who have been failing beneficiaries by asking for bribes to access funds," Ms Kanushu said.
She says under this project money shall be wired onto the beneficiaries' accounts from banks hence it will minimise bottlenecks
During training of the leaders of persons with disabilities from districts in Uganda, they expressed optimism to boost their economic muscle by boosting their businesses.
Christine Nsungu, the LCV councillor PWDs in Jinja District, said GROW is a unique programme since it targets individual beneficiaries.
"In the previous programs we have been receiving money in groups which ended up being shared or swindled by some group leaders but under this new project, i get my money as an individual and its me to budget for it and manage it," she said
Amina Batega, LCV Councillor for PWDs in Namutumba District, thanked the government for coming up with this program which she thinks shall enable women get financial literacy which they have been lacking.
Unlike the previous governments which are handled at Local government level, the new project is centralised and individual beneficiaries shall get money directly on their accounts.
