The World Bank has announced it will release over $2 billion (approximately Shs 7.6 trillion) to Uganda over the next three financial years to support vital infrastructure and development projects, according to the Ministry of Finance, Planning and Economic Development.
Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury, confirmed on Monday that this new concessional financing reflects renewed World Bank confidence in Uganda’s economy and governance. "The total current investment stands at $4.9 billion," Ggoobi stated. "In the coming three financial years, the World Bank will provide over $2 billion in new funding to drive our development."
The funds will be allocated to various sectors, including roads and bridges, electricity transmission and last-mile distribution, regional infrastructure, agriculture, water and irrigation, education, information technology, skills development, and social protection.
Ggoobi also revealed that the International Finance Corporation (IFC) plans to inject long-term “patient capital” into Uganda’s private sector, with a focus on minerals, renewable energy, agro-industrialization, science and innovation, and co-investment opportunities with state-owned enterprises.
Regarding Uganda's engagement with the International Monetary Fund (IMF), Ggoobi shared that discussions are ongoing for a new Extended Credit Facility (ECF) program set to begin after the 2026 general elections. This program will prioritize reforms aimed at boosting domestic revenue, eliminating unnecessary supplementary budgets, and strengthening the financial sector.
“The World Bank has committed to supporting our tenfold growth strategy, while the IMF focuses on ensuring a stable macroeconomy as we work towards building a more prosperous Uganda,” Ggoobi said. He also noted that the IMF continues to rank Uganda among the fastest-growing economies in Africa, reflecting the country’s stable macroeconomic outlook.
The 2025 IMF/World Bank Annual Meetings in Washington, D.C., emphasized the critical role of the private sector in driving global economic growth, with the World Bank shifting its focus from traditional projects to job creation through private investment.