Uganda Secures Over $2 Billion in World Bank Financing to Bolster DevelopmentKampala, Uganda – October 23, 2025 – Uganda is poised to receive more than $2 billion in concessional financing from the World Bank over the next three financial years, a move set to advance the nation’s development priorities across critical sectors. The announcement was made by Ramathan Ggoobi, Permanent Secretary and Secretary to the Treasury, following the successful conclusion of the 2025 IMF and World Bank Annual Meetings in Washington, D.C.
The new funding increases Uganda’s total investment portfolio with the World Bank to $4.9 billion. According to Ggoobi, the resources will support key areas, including road and bridge infrastructure, electricity transmission and distribution, urban development, education, information technology, agriculture, water and irrigation systems, export guarantee programs, skills development, and social protection initiatives.
Ggoobi highlighted a strategic shift in the World Bank’s approach under President Ajay Banga, emphasizing private sector empowerment to drive job creation and economic growth. The International Finance Corporation (IFC), the World Bank Group’s private sector arm, will support these efforts by providing long-term capital for investments in minerals, renewable energy, agro-industrialization, and innovation, alongside facilitating public-private partnerships in select state-owned enterprises.
In parallel, Ggoobi confirmed ongoing negotiations with the International Monetary Fund (IMF) for a new Extended Credit Facility (ECF) program, expected to commence following Uganda’s national elections. The program will focus on enhancing domestic revenue mobilization, maintaining budget discipline, and strengthening the financial sector to ensure sustainable economic growth.
Both the World Bank and IMF have praised Uganda’s economic resilience and prudent macroeconomic management. The IMF ranks Uganda among Africa’s fastest-growing economies, attributing its success to sound fiscal policies and a dynamic private sector.“The World Bank’s commitment aligns with Uganda’s tenfold growth strategy, particularly through investments in technology and its enablers,” Ggoobi stated, underscoring the government’s dedication to fostering stability and prosperity.
The new funding increases Uganda’s total investment portfolio with the World Bank to $4.9 billion. According to Ggoobi, the resources will support key areas, including road and bridge infrastructure, electricity transmission and distribution, urban development, education, information technology, agriculture, water and irrigation systems, export guarantee programs, skills development, and social protection initiatives.
Ggoobi highlighted a strategic shift in the World Bank’s approach under President Ajay Banga, emphasizing private sector empowerment to drive job creation and economic growth. The International Finance Corporation (IFC), the World Bank Group’s private sector arm, will support these efforts by providing long-term capital for investments in minerals, renewable energy, agro-industrialization, and innovation, alongside facilitating public-private partnerships in select state-owned enterprises.
In parallel, Ggoobi confirmed ongoing negotiations with the International Monetary Fund (IMF) for a new Extended Credit Facility (ECF) program, expected to commence following Uganda’s national elections. The program will focus on enhancing domestic revenue mobilization, maintaining budget discipline, and strengthening the financial sector to ensure sustainable economic growth.
Both the World Bank and IMF have praised Uganda’s economic resilience and prudent macroeconomic management. The IMF ranks Uganda among Africa’s fastest-growing economies, attributing its success to sound fiscal policies and a dynamic private sector.“The World Bank’s commitment aligns with Uganda’s tenfold growth strategy, particularly through investments in technology and its enablers,” Ggoobi stated, underscoring the government’s dedication to fostering stability and prosperity.
