Tanzania, May 13 -- Kampala. The East African Development Bank has unveiled a $13 million fund targeting women and youth-led businesses across East Africa, as the regional lender also announced changes in its top leadership.

According to the bank statement, the new facility, announced during the bank's Governing Council meeting in Kampala, is aimed at expanding access to finance for enterprises led by women and young entrepreneurs through partner financial institutions across member states.

The initiative forms part of EADB's 2024-2028 Strategic Plan, which focuses on promoting inclusive and sustainable economic development in the region.

The announcement came as the bank reported a strong financial performance for the year ended Decem...