Uganda has launched a new 10-year partnership with the World Bank worth $3.8 billion (about Shs14 trillion) to boost private investment, create jobs, and support economic growth as the country prepares for oil revenues.
Speaking at the launch of the Uganda Country Partnership Framework (CPF) and the Public Finance Review, Finance Minister Henry Musasizi said the success of the funding will depend on prudent spending, strong financial discipline, and delivering real benefits to citizens rather than simply increasing projects or budgets.
The CPF outlines the World Bank’s long-term support for Uganda’s ambition of becoming an upper-middle-income economy by 2040. It focuses on attracting private capital, strengthening economic governance, improving infrastructure, creating better jobs, and investing in health, education, and a more competitive private sector.
Meanwhile, the Public Finance Review stresses that lasting prosperity will require more than oil revenues. It recommends stronger institutions, efficient public spending, increased domestic revenue collection, and continued investment in people.
Musasizi said Uganda has remained economically stable despite global challenges, citing improvements in fiscal transparency, debt management, public financial systems, and revenue mobilization. He emphasized that development should be measured by the lives improved and opportunities created for Ugandans.
World Bank Division Director Qimiao Fan reaffirmed the Bank’s commitment to Uganda, noting that the new partnership will move beyond individual projects to broader, sector-wide interventions aimed at accelerating the country’s economic transformation.
