By Ssenkayi Marvin Ezra
Uganda has secured over US$2 billion in fresh financing from the World Bank Group, a major vote of confidence in the country’s ongoing economic reforms and development agenda. The funding, which will be disbursed over the next three financial years, is earmarked to support key sectors such as transport, energy, ICT, and agriculture; all critical pillars under Uganda’s Third National Development Plan (NDP III) and the forthcoming NDP IV framework.
The new commitment marks a renewed phase of cooperation between the Government of Uganda and the World Bank, following a funding freeze in the wake of the Anti-Homosexuality Bill back in 2023.
According to the Ministry of Finance, Planning and Economic Development, the financing package reflects the Bank’s continued confidence in Uganda’s fiscal discipline, infrastructure investments, and governance reforms designed to stimulate inclusive growth.
Officials noted that the money would be used to finance projects in transportation, energy, ICT, agriculture and other sectors.
“I am glad to announce that concessional financing is back. In the next three financial years, the World Bank will disburse over $2 billion of new money to finance our development,” Ramathan Ggoobi, ministry of finance permanent secretary who also doubles as secretary to the Treasury, said in a statement sent out to media.
Uganda’s development priorities remain focused on industrialisation, value addition, and digital transformation — all areas where the World Bank’s support is expected to make a tangible impact.
Funding will accelerate construction and rehabilitation of key road networks, improve connectivity and regional trade integration, expand reliable and affordable electricity to rural areas, support industrial growth and household development. Targeted programs that will boost productivity, agro-processing, and market access for farmers, aligning with the Parish Development Model’s goal of household income enhancement and strengthen Uganda’s digital infrastructure, supporting the country’s growing innovation ecosystem and e-governance agenda.
The announcement comes at a time when Uganda is preparing for a period of strong economic performance, driven by the anticipated start of oil production in 2026, rising export potential, and sustained public investment in infrastructure.
Economists note that the new financing will ease fiscal pressures, complement domestic resource mobilisation efforts, and enable the government to sustain momentum on flagship projects under Vision 2040.
The World Bank’s support also reinforces Uganda’s creditworthiness and credibility in the global development financing space, paving the way for increased bilateral and private investment flows.
The government has pledged to ensure that the funds are utilised effectively, transparently, and in line with national priorities.
Implementation will be coordinated through the respective sector ministries, with oversight from the Ministry of Finance and the Office of the Prime Minister to ensure alignment with the national results’ framework.
Already, Uganda has made notable progress in public financial management reforms, digitalising procurement systems, and improving project monitoring — steps that have enhanced the confidence of development partners.
The renewed World Bank engagement reaffirms Uganda’s position as a key player in Africa’s development landscape — a country leveraging partnerships to deliver sustainable growth, strengthen resilience, and uplift the lives of its citizens.
As the new funding begins to flow, attention will now shift to implementation — ensuring that every dollar invested contributes meaningfully to Uganda’s infrastructure, productivity, and social transformation goals.