FMO Co-Chief Investment Officer- Huib-Jan de Ruijter (left) and I&M Bank CEO -Robin Bairstow sign a Memorandum of Understanding after announcing the partnership.
Financing Company for Development (FMO), the Dutch Entrepreneurial Development Bank, has extended a USD 20 million senior unsecured facility to I&M Bank (Uganda) Limited to support lending to small and medium-sized enterprises (SMEs) across a wide range of sectors. The facility includes an initial USD 10 million senior debt commitment, representing the first tranche of a total USD 20 million (UGX 74 billion) facility.
The announcement was made on Wednesday, March 11, 2026, at the I&M Bank Uganda Head Office at Kingdom Kampala. The event was attended by representatives from the Dutch Embassy in Uganda, led by Corinne Abbas- First Secretary, Economic Cooperation, the Dutch Ministry of Foreign Affairs- led by Natalie den Breugom- Deputy Director, Sustainable Economic Development, the Dutch Ministry of Finance, led by Rene Idzenga- Head of State of Enterprises, as well as members of FMO led by Huib-Jan de Ruijter-Co-Chief Investment Officer.
The I&M Bank delegation, led by the CEO- Robin Bairstow, also included customers whose businesses operate in sectors aligned with FMO’s areas of interest, including SMEs, sustainability, and women in business.
The transaction will provide flexible financing and support decent work and reduced inequalities, in line with Sustainable Development Goals 8 and 10. It also qualifies for FMO’s 100% Reducing Inequalities label.
FMO’s financing is directed exclusively to I&M Bank’s Small and Medium Enterprise (SME) segment, with a focus on facilities for the unbanked, including women-owned businesses and agricultural enterprises.
According to Robin Bairstow, CEO of I&M Bank (Uganda) Limited, the bank has a strong track record of supporting SMEs through agriculture, women, and youth-led tailored solutions that have driven business and economic growth.
“At I&M Bank Uganda, SMEs are not a peripheral segment — they are central to our growth strategy and to Uganda’s broader economic transformation. We’ve been supporting SMEs with diverse tailored financial products, asset financing, capacity-building initiatives, financial literacy, and other solutions. Through the recently concluded Tukikube ne I&M Bank campaign, we offered asset financing and structured financial literacy sessions that equipped entrepreneurs with both capital and knowledge to scale sustainably,” noted Bairstow.
“Now, with FMO’s financing, we can expand these offerings to a much wider range of sectors and reach more businesses across Uganda. FMO’s investment builds on this expertise and advances the sustainable business growth of this segment,” he added.
He also said the bank had, over the last two years, deliberately strengthened the balance sheet, enhanced capital position, and invested significantly in modern technology platforms to ensure it serves SMEs sustainably.
“This financial strength enables us to extend more flexible and increasingly unsecured lending solutions to viable SMEs — particularly women-owned enterprises, agribusinesses, and youth-led ventures that may not always meet traditional collateral thresholds.”
“Importantly, SME growth today is not just about access to credit — it is about access to markets. The East African region accounts for intra-regional trade levels of nearly 40%, making cross-border efficiency critical for business competitiveness. Through products like our recently launched I&M Brisk platform, we are enabling SMEs to transact seamlessly across our regional footprint, reduce payment friction, ease supply chain bottlenecks, and improve working capital cycles. In this way, our support goes beyond lending — we are facilitating trade flows, enhancing liquidity management, and positioning our customers to compete regionally and grow sustainably,” he reiterated.
Bairstow further noted that the partnership with FMO strengthens not only the Bank’s lending capacity but also its ability to build a more inclusive, resilient, and interconnected SME ecosystem. “We are building a bank that is personal, responsive, and innovative — one that truly lives our promise of being ‘On Your Side: Empowering Your Prosperity,’” he said.
Commenting about the partnership, Huib-Jan de Ruijter, Co-Chief Investment Officer at FMO, said it underscores FMO’s commitment to working with strong regional banks to design practical, market-driven solutions that respond to the real financing and growth needs of SMEs.
“Our investment in I&M Bank Uganda reflects FMO’s commitment to sustainable business growth, especially for difficult-to-reach target groups. Through our partnership with I&M Bank, FMO can increase its investments in Least Developed Countries, promote economic growth, and reduce inequalities.”
During the session, entrepreneurs shared how previous support from I&M Bank helped them scale operations, hire youth, and increase revenues. The discussions highlighted businesses across agribusiness, digital innovation for financial inclusion, and women-led enterprises, demonstrating the tangible impact of access to credit on both business growth and inclusive economic development.
Additionally, as the Bank advances its sustainability agenda through its parent company, I&M Group, FMO will work closely with the holding company to ensure that group-level standards are effectively implemented within the Ugandan subsidiary.
