The Permanent Secretary and Secretary to the Treasury (PSST), Dr Ramathan Ggoobi, has held talks with international lenders, European export credit agencies and multilateral partners in London to secure long-term financing for Uganda’s priority infrastructure projects.
The discussions focused on raising affordable capital for projects under the government’s Tenfold Growth Strategy, including the Standard Gauge Railway (SGR), electricity transmission, commercial irrigation, strategic roads, healthcare and industrial manufacturing.
According to the Ministry of Finance, Planning and Economic Development, Ggoobi’s mission involved engagements with Standard Chartered Bank, Citibank, the World Bank and European export credit agencies.
The talks explored competitively priced, long-term credit and guarantees to attract private investment and reduce the cost of financing, including potential arrangements backed by the World Bank.
The ministry said Ggoobi also met portfolio investors and encouraged them to increase investment in Uganda, citing the country’s macroeconomic performance and potential returns.
He emphasised that financing arrangements should translate into completed projects that reduce the cost of doing business, improve export competitiveness and create jobs, while ensuring that public borrowing remains sustainable.
The Tenfold Growth Strategy seeks to accelerate Uganda’s economic transformation by expanding productive sectors and strengthening infrastructure to support investment and business activity.
The ministry said Ggoobi and the partners agreed on next steps to advance priority projects through technical appraisal, negotiations on financing terms and the necessary approvals.
Ggoobi was accompanied on the mission by Juvenal Muhumuza, the Ministry of Finance’s Commissioner for Development Assistance and Regional Cooperation.
The engagements form part of the government’s efforts to secure long-term financing for infrastructure and productive investments intended to support economic growth under the Tenfold Growth Strategy.