The World Bank will release more than $2 billion (about Shs 7.6 trillion) to Uganda over the next three financial years to support key infrastructure and development projects, the Ministry of Finance, Planning and Economic Development has announced.
Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, said on Monday that the new concessional financing marks renewed World Bank confidence in Uganda’s economy and governance.
“The current total investment is $4.9 billion,” Ggoobi said. “In the next three financial years, the World Bank will disburse over $2 billion of new money to finance our development.”
According to Ggoobi, the funds will be directed toward roads and bridges, electricity transmission and last-mile distribution, infrastructure in regional cities, agriculture, water and irrigation, schools, information technology, skilling, and social protection.
“The current total investment is $4.9 billion,” Ggoobi said. “In the next three financial years, the World Bank will disburse over $2 billion of new money to finance our development.”
According to Ggoobi, the funds will be directed toward roads and bridges, electricity transmission and last-mile distribution, infrastructure in regional cities, agriculture, water and irrigation, schools, information technology, skilling, and social protection.
He also revealed that the International Finance Corporation (IFC) will inject long-term “patient capital” into Uganda’s private sector, focusing on minerals, renewable energy, agro-industrialization, science and innovation, and co-investment with state-owned enterprises.
On Uganda’s engagement with the International Monetary Fund (IMF), Ggoobi said discussions are underway for a new Extended Credit Facility (ECF) program after the 2026 general elections.
The new program will emphasise reforms to boost domestic revenue, eliminate unnecessary supplementary budgets, and strengthen the financial sector.
“The World Bank has committed to support our tenfold growth strategy, while the Fund is focused on helping us maintain a stable macroeconomy as we build a richer and more prosperous Uganda,” he noted.
Ggoobi said the IMF continues to rank Uganda among the fastest-growing economies in Africa, underscoring the country’s stable macroeconomic outlook.
The 2025 IMF/World Bank Annual Meetings in Washington, D.C. emphasised the private sector’s role in driving global economic growth, with the World Bank shifting focus from traditional projects to job creation through private investment.
Source:Nilepost
