Africa-Press – Uganda. Uganda’s delegation to the International Monetary Fund/World Bank Spring Meetings 2026 has held high-level discussions with Diop Ndiame, Vice President for the Africa Region at the World Bank, focusing on Uganda’s economic performance and the status of the Bank’s development portfolio in the country.
The meeting highlighted Uganda’s continued economic resilience amid global uncertainties. Speaking during the engagement, the Minister of State for Finance, Planning and Economic Development, Henry Musasizi, noted that the country’s economy remains on a steady growth path.
“Uganda’s economy has continued to expand despite the challenging global environment,” he said, adding that current GDP growth stands at 6.3 percent, with projections of between 6.5 percent and 7 percent by the end of the financial year, and double-digit growth over the medium term.
“This growth trajectory is well aligned to our ambition to grow the economy tenfold by 2040,” he said.
The discussions also reviewed the performance and expansion of the World Bank’s portfolio in Uganda. According to the Minister, the portfolio has increased significantly from USD 3.9 billion as of March 2025 to USD 4.74 billion, currently supporting 18 projects and programmes across key sectors.
“We thank the Bank for the approval of the Uganda Cities and Municipal Infrastructure Program and additional financing to the Integrated Water Management Development Project. We look forward to the approval of Uganda Tanzania Transmission Line project and additional financing to the Lot 1 of the North Eastern Road Asset Management Project,” said Musasizi.
Uganda further outlined its priorities under the country’s long-term development strategy, seeking enhanced World Bank support through a programmatic financing approach.
Key investment areas include the Standard Gauge Railway, hydropower generation, urban infrastructure, drainage and waste management systems, transmission lines and substations—particularly in industrial parks—and increased private sector access to credit, alongside Development Policy Operations.
In response, Ndiame commended Uganda for maintaining macroeconomic stability, while emphasizing the need to translate economic growth into tangible social outcomes.
He urged Uganda to ensure that growth results in the creation of quality jobs and meaningful poverty reduction. He also praised the country for its continued solidarity in hosting refugees, noting that the World Bank stands ready to develop targeted programmes to support Uganda’s refugee response.
At the same time, Ndiame called for improved efficiency in project implementation and faster disbursement of funds to maximize development impact.
The Ugandan delegation also held technical discussions with World Bank officials on the INVITE Export Guarantee Scheme.
The session concluded with recommendations to restructure the scheme to better meet the expectations of beneficiaries and enhance its effectiveness.
Further engagements focused on Uganda’s energy sector, where both sides agreed on key reforms required to improve sector performance and sustainability.
In a separate meeting, the delegation met with officials from the Japan International Cooperation Agency, including Yushi Nagano, Head of Africa Investment, and Shinohara Shunei, Senior Deputy Director General for the Africa Department.
Discussions centered on financing major infrastructure projects, notably the Kampala Flyover Project and the Kampala Metropolitan Transmission System, both of which are at advanced stages of completion.
The engagements underscore Uganda’s commitment to strengthening international partnerships and mobilizing strategic financing to accelerate infrastructure development and achieve its long-term economic transformation agenda.
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