The World Bank has hailed Uganda\u2019s high economic growth rates but noted that this is not corresponding with the improvement in people\u2019s livelihoods.<\/p>\n\n\n\n
\u200eNdiame Diop, the Bank\u2019s Vice-President for Africa lauded Uganda for the macroeconomic stability but urged the country to translate the growth of the economy into good jobs and poverty reduction.<\/p>\n\n\n\n
\u200e\u200eThis was during a side meeting between the Uganda delegation led by State Minister for Finance, Henry Musasizi and comprising Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi and Attorney General Kiryowa Kiwanuka; and the World Bank Vice President at the ongoing World Bank\/IMF Spring Meetings in Washington DC.<\/p>\n\n\n\n
\u200e\u200e\u200eDiop also commended Uganda for her solidarity with refugees, adding that the Bank is ready to develop a programme to support Uganda in hosting the refugees.<\/p>\n\n\n\n
\u200e\u200e\u200eUganda has just over 2 million refugees and asylum seekers as at April 13, 2026, according to the UN.<\/p>\n\n\n\n
She called for efficiency in the implementation of projects and improvement in the disbursement of funds. Several of the World Bank-funded projects in Uganda are considered underperforming by the banks review reports.\u200e<\/p>\n\n\n\n
The delegation also had a session with the World Bank on INVITE (Investment for Industrial Transformation and Employment) Project\u2019s export guarantee scheme.<\/p>\n\n\n\n
INVITE is one of the projects formed to relieve the private sector of the effects of the COVID-19 pandemic, but has also been rated as underperforming.\u200e\u200e\u200e<\/p>\n\n\n\n
At the meeting, some of the recommendations were that INVITE should be restructured to meet the expectations of the beneficiaries.<\/p>\n\n\n\n
Another session was on the energy sector in Uganda to agree on the key reforms that must be implemented to improve the performance of the energy sector.\u200e\u200e\u200e<\/p>\n\n\n\n
The World Bank portfolio in Uganda has expanded from USD 3.9 million in March 2025 to USD 4.74 billion, with 18 active projects.\u200e\u200e \u200eUganda seeks programmatic funding for infrastructure priorities like Standard Gauge Railway and hydropower.<\/p>\n\n\n\n
Minister Musasizi said Uganda\u2019s economy continued to expand despite the challenging global environment, adding that current GDP growth stands at 6.3 percent, with a projected growth of between 6.5 and 7 percent by end of this financial year, and double digit over the medium term. \u200e<\/p>\n\n\n\n
\u200e\u201cThis growth trajectory is well aligned to our ambition to grow the economy tenfold by 2040,\u201d he said, adding that World Bank portfolio had grown from USD 3.9 billion in March 2025 to 4.74 Billion, in 18 projects and programs. \u200eHe thanked the Bank for the approval of the Uganda Cities and Municipal Infrastructure program and additional financing to the Integrated Water Management Development Project, seeking more funding for electricity and roads projects.<\/p>\n\n\n\n
\u201cWe 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,\u201d said Musasizi.\u200e<\/p>\n\n\n\n
He also said government seeks the Bank\u2019s support in financing, using a programmatic approach, the growth drivers of the tenfold strategy. \u200e<\/p>\n\n\n\n
Project under this include the Standard Gauge Railway, Hydro power generation, Urban Infrastructure, drainage and waste management, transmission line and substations in mainly Industrial parks and private sector support especially access to credit in addition to Development Policy Operations.<\/p>\n\n\n\n
\u200e\u200e\u200eIn a separate meeting, Uganda\u2019s delegation met with Japan International Cooperation Agency (JICA) officials, Yushi Nagano, the Head of Africa Investment and Shinohara Shunei, the Africa Department Senior Deputy Director General to discuss the financing of projects in Uganda.<\/p>\n\n\n\n
The key projects implemented by JICA are the Kampala Flyover project and the Kampala Metropolitan Electricity Transmission System Improvement Project already in advanced stages of completion.\u200e \u200e\u200e<\/p>\n\n\n\n
The Transmission System is a major infrastructure initiative by Uganda\u2019s Uganda Electricity Transmission Company Limited, to strengthen and expand the high-voltage electricity transmission grid serving the Greater Kampala Metropolitan Area including Kampala, Mukono, Wakiso, Mpigi, and surrounding districts. \u200e \u200e<\/p>\n\n\n\n
Editor:msserwanga@gmail.com<\/strong><\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" The World Bank has hailed Uganda\u2019s high economic growth rates but noted that this is not corresponding with the improvement<\/p>\n","protected":false},"author":2,"featured_media":16966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[65],"tags":[],"class_list":["post-16965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2026\/04\/ban.webp","jetpack-related-posts":[{"id":16825,"url":"https:\/\/prowebinhost.com\/anzu\/world-bank-delegation-meets-museveni-over-sgr-agro-industrial-push\/","url_meta":{"origin":16965,"position":0},"title":"World Bank Delegation Meets Museveni Over SGR, Agro-Industrial Push","author":"UgandaUpdate","date":"April 1, 2026","format":false,"excerpt":"President\u00a0Yoweri Kaguta Museveni\u00a0 has held talks with a delegation from the\u00a0World Bank\u00a0at State Lodge Nakasero, emphasizing the need for strategic investments in infrastructure and agro-industrialization to drive Uganda\u2019s economic transformation. 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