Kampala, Uganda: The World Bank has committed to mobilising USD 3.8 billion (about Shs13.9 trillion) over the next decade to support Uganda’s economic transformation under a newly launched Country Partnership Framework (CPF) aligned with the government’s ambition of building a USD 500 billion economy.
The commitment was announced on Monday during the launch of the Uganda Country Partnership Framework (2026–2035) and the Public Finance Review at Golden Tulip Hotel in Kampala.
The 10-year operational strategy sets out how the World Bank Group will support Uganda’s journey towards becoming a modern, prosperous and competitive upper-middle-income country by 2040 through a “One World Bank” approach aligned with the country’s Tenfold Growth Strategy, Vision 2040, and the Fourth National Development Plan (NDP IV).
Under the framework, the World Bank plans to mobilise and enable private capital at scale amounting to USD 3.8 billion, with investments expected to drive wealth creation, job creation, infrastructure development, private sector competitiveness and stronger economic governance.
The strategy also prioritises investments in education, healthcare, skills development, climate resilience, and improved connectivity to accelerate inclusive and sustainable growth.
Launching the two reports, Finance Minister Henry Musasizi said the partnership comes at a critical moment as Uganda prepares for its oil production era while pursuing ambitious economic reforms.
“Our focus going forward will remain on prudently executing the tenfold growth strategy to turn Uganda into a 500-billion-dollar economy, enforcing absolute discipline, enhancing revenue mobilization, wealth creation and oil revenue management,” Musasizi said.
He noted that despite global economic disruptions in recent years, Uganda has maintained macroeconomic stability and strengthened key public finance systems.
According to the minister, government has improved fiscal transparency, enhanced public financial management, strengthened debt management, expanded domestic revenue mobilisation and reinforced public investment management.
“As we scale up public investment, let us remember that development is not measured by the size of our budgets, the number of projects approved or policies adopted but by the lives transformed, opportunities created and lasting impact on citizens,” he said.
Alongside the partnership framework, government and the World Bank also unveiled the latest Uganda Public Finance Review, which examines the country’s fiscal readiness as commercial oil production draws closer.
The report recommends that Uganda’s long-term prosperity should not rely solely on oil revenues but rather on stronger institutions, prudent public expenditure, improved domestic revenue mobilisation and sustained investment in human capital.
It also underscores the importance of effective oil revenue management to ensure the country’s natural resources translate into broad-based economic development.
Speaking during the launch, Qimiao Fan, the World Bank Division Director for Kenya, Rwanda, Somalia and Uganda, said the institution is changing its development approach to deliver broader and more sustainable impact.
“The World Bank is moving away from isolated projects to comprehensive sector-wide interventions,” Fan said.
He reaffirmed the World Bank’s commitment to supporting Uganda’s long-term transformation agenda through strategic investments, policy reforms, and stronger collaboration with both government and the private sector.
The new partnership framework is expected to strengthen Uganda’s investment climate, unlock more private capital, improve infrastructure, expand employment opportunities, and accelerate implementation of reforms necessary to achieve the country’s long-term development aspirations.
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