KAMPALA, Uganda (CU)_In April last year, as the COVID-19 pandemic began to ravage the lives and livelihoods of millions of people, the Bank of Uganda (BoU) launched several liquidity assistance measures with the aim of shoring up capital and funding the gaps among financial institutions which were severely affected by the crisis. Accordingly, during the period ended September 2020, commercial banks had borrowed Shs90 billion in emergency provisions, and data issued by the central bank revealed that these emergency borrowings by commercial banks are on the rise, following a resurgence of Coronavirus infections in the country since then.
According to the BoU, in the quarter ended April 2021, money borrowed from the bank from emergency provisions amounted to…
