EU to work with private sector instead of Government

The European Union (EU) for the first time in decades will deal directly with the private sector instead of government.

EU to work with private sector instead of Government

The move sets a new agenda in which the Board of the Sustainable Business for Uganda co-chaired by EU Ambassador to Uganda Pacifici and Private Sector Foundation Uganda (PSFU) chairman Elly Karuhanga will provide leadership on trade and investment. 

In a joint statement last week, Mr Karuhanga said under the new programme, PSFU will bring EU companies closer to the private sector to enhance Uganda-EU trade opportunities. 

EU has been working with government to channel assistance, especially through Uganda Development Bank.    
In the statement Amb Pacifici said they had put together different funding instruments that will be made available to the private sector to benefit both Ugandan and EU companies.

This will mainly be done through the Board of the Sustainable Business for Uganda by encouraging participation of both Ugandan and EU private sector players in skilling and making them aware of high-level engagements between government and the EU. 

Mr Karuhanga noted EU and Uganda will also collaborate in digitisation, green energy and finance, smart agriculture, ecotourism and sustainable exploitation of natural resources.

From Daily Monitor