Towards an Appropriate Financial System for Rural Transformation in Uganda
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Rural transformatmn that embraces an agrarian revolution requires self-sustained capital
accumulation plus people's participation in the development process. A system of people's rural development banks
constitutes an appropriate fmancial system for rural transformation since it involves the above two conditions. A
pilot project in one district of Uganda shows that a nationwide system of people's banks would almost double
deposits, multiply the volume of credit several-fold, and dehver the necessary technical assistance to rural
producers. Its considerable quantitative and qualitative impacts on the rural economy justify immediate attention to
this vital rural development programme.