This support could also just prolong the typical lag between the recession and the rise in NPLs rather than prevent NPL formation. There are already some early signs of weakening credit quality, for example the share of loans reported as subject to heightened credit risk has risen significantly and asset quality is likely to deteriorate once support measures are phased out.
*  *  *  Honourable Minister responsible for Finance, Mrs. Maria Kiwanuka The Governor of the Peoples’ Bank of China The Ambassador of the Peoples’ Republic of China to Uganda Board of Directors, Bank of Uganda Permanent Secretary/Secretary to the Treasury Permanent Secretary, Ministry of Foreign Affairs Chairman, Uganda Bankers Association Chairman, Uganda Manufacturers’ Association The President, Uganda Chamber of Commerce and Industry Executive Director, Private Sector Foundation Executive Director, Uganda Investment Authority Chairperson, Association of Uganda Foreign Exchange Bureaus Chairperson, Kampala City Traders Association (KACITA) Distinguished Delegates from the Peoples’ Bank of China Management Staff of the Bank of Uganda Ladies and Gentlemen Good evening The purpose of this dinner is to welcome the Governor of the Peoples’ Bank of China Dr. Zhou Xiaochuan and his delegation.