KAMPALA, May 13 -- The East African Development Bank has launched a USD 13 million fund to support youth- and women-led businesses across East Africa, in a major push to promote inclusive economic growth and reduce poverty in the region.

Announced during the Banks Governing Council meeting in Kampala, Uganda, the initiative aims to expand access to financing for entrepreneurs who often struggle to secure affordable credit and investment. The fund forms part of EADBs 2024–2028 Strategic Plan focused on sustainable development, innovation, and socio-economic transformation within member states.

The initiative comes at a time when many African economies continue to face unemployment, income inequality, and limited financial inclusion...