President Yoweri K Museveni held meeting with the African Development Bank President Mr Akinwumi Adesina on the sidelines of the 28th AU ordinary summit in Addis.
In the meeting, President Museveni made proposals that he described as a three pronged strategy that could be supported by the bank including
1.A move to patent all scientific innovation. Such that the youth are encouraged to be more creative as well as gain meaningfully from their innovations.
2. Transform imports into manufacturing. In instances where we cannot avoid importing. President Museveni asked the bank to work out a mechanism where it might also facilitate Uganda`s own manufacturing, for example instead of importing juice, have machines which make the juice in the country.
3. Involving the youth in creating wider SME base and in effect job creation.
The ADB President Mr Akinwumi said the bank already has a US$8million fund that can be accessed by the youth. He said the bank also provides grants and credit lines to compliment what government is already doing for the youth and women.
Mr Akinwumi said the bank can provide lines of credit to the Uganda Development bank to widen the SME base and also provide support for industrial projects such as industrial parks.