Africa-Press – Uganda. Uganda’s delegation attending the IMF and World Bank Spring Meetings 2026 in Washington, D.C. has met with World Bank Vice President for the Africa region Ndiame Diop to discuss the country’s economic performance and the state of the World Bank’s portfolio in Uganda.
The Minister of State for Finance in charge of General Duties said Uganda’s economy continues to grow despite a challenging global environment, with current GDP estimated at 6.3 percent and projections of between 6.5 percent and 7 percent by the end of the financial year.
He said the medium-term outlook remains strong, with aspirations of achieving double-digit growth in the coming years as part of Uganda’s broader ambition to expand the economy tenfold by 2040.
“This growth trajectory is well aligned to our ambition to grow the economy tenfold by 2040,” the Minister said.
He noted that the World Bank portfolio in Uganda has expanded significantly, growing from USD 3.9 billion in March 2025 to USD 4.74 billion, covering 18 projects and programmes.
The Minister thanked the Bank for approving the Uganda Cities and Municipal Infrastructure Programme and providing additional financing for the Integrated Water Management Development Project.
He also expressed anticipation for approval of the Uganda–Tanzania transmission line project and additional funding for Lot 1 of the North Eastern Road Asset Management Project.
He further outlined government’s request for World Bank support under a programmatic financing approach targeting key growth drivers under the tenfold strategy.
These include the Standard Gauge Railway, hydropower generation, urban infrastructure, drainage and waste management systems, transmission lines and substations in industrial parks, as well as private sector credit access and development policy operations.
World Bank Vice President Ndiame Diop commended Uganda for maintaining macroeconomic stability but urged greater focus on translating economic growth into employment creation and poverty reduction.
He also praised Uganda’s continued support for refugees, noting that the Bank is ready to develop a dedicated programme to support refugee-hosting efforts.
Diop, however, cautioned on the need for improved efficiency in project execution and faster disbursement of funds to ensure timely delivery of development outcomes.
During the engagement, the two sides also reviewed the INVITE export guarantee scheme, with recommendations pointing to the need for restructuring to better serve intended beneficiaries.
Another technical session focused on Uganda’s energy sector, where discussions centred on reforms required to improve sector performance and efficiency.
In a separate engagement, Uganda’s delegation met officials from the Japan International Cooperation Agency (JICA), including Head of Africa Investment Yushi Nagano and Senior Deputy Director General Shinohara Shunei of the Africa Department, to discuss financing for key infrastructure projects.
The proposed projects include the Kampala Flyover Project and the Kampala Metropolitan Transmission System, both aimed at improving urban mobility and power transmission capacity in the greater Kampala region.
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