Uganda has intensified efforts to secure development financing and deepen economic cooperation following high-level talks with World Bank officials during the ongoing IMF and World Bank Spring Meetings 2026 in Washington, D.C.
The Ugandan delegation, led by State Minister for Finance (General Duties) Henry Musasizi, met World Bank Vice President for Africa Ndiame Diop to review the country’s economic performance and assess the status of the Bank’s portfolio in Uganda.
Musasizi said Uganda’s economy has remained resilient despite global uncertainties, noting that growth currently stands at 6.3 percent and is projected to rise to between 6.5 and 7 percent by the end of the financial year. “This growth trajectory is well aligned to our ambition to grow the economy tenfold by 2040,” Musasizi said.
He added that Uganda’s portfolio with the World Bank has expanded significantly, rising from $3.9 billion in March 2025 to $4.74 billion, covering 18 active projects and programmes.
“We thank the Bank for the approval of the Uganda Cities and Municipal Infrastructure Programme and additional financing to the Integrated Water Management Development Project. We look forward to the approval of the Uganda–Tanzania Transmission Line project and additional financing to the North Eastern Road Asset Management Project,” he said.
Push for Strategic Investments
The government is now seeking increased World Bank support for key drivers of its long-term development strategy. These include major infrastructure and energy investments such as the Standard Gauge Railway, hydropower generation, urban infrastructure, drainage systems, and electricity transmission networks.
Musasizi also emphasised the need for enhanced private sector financing, particularly improving access to credit, alongside continued Development Policy Operations.
World Bank Response
Diop commended Uganda for maintaining macroeconomic stability but urged authorities to ensure that economic growth translates into tangible improvements in livelihoods. “Uganda must focus on creating jobs and reducing poverty so that growth benefits all citizens,” he said.
He also praised Uganda’s refugee policy, noting the country’s continued openness in hosting displaced populations, and pledged the Bank’s support in developing programmes to assist refugee-hosting communities.
At the same time, Diop called for improved efficiency in project implementation and faster disbursement of funds to maximise impact.
Sector Reforms and Additional Talks
Beyond the main bilateral meeting, Uganda held technical discussions with World Bank teams on the INVITE Export Guarantee Scheme, where recommendations were made to restructure the programme to better meet the needs of beneficiaries.
Another session focused on reforms in the energy sector, with both sides agreeing on the need to improve performance and efficiency across the electricity value chain.
Engagement with Japan
In a separate engagement, the Ugandan delegation also met officials from the Japan International Cooperation Agency to explore financing opportunities for key infrastructure projects.
Discussions centred on ongoing developments such as the Kampala Flyover Project and the Kampala Metropolitan Transmission System, both of which are in advanced stages of implementation.
Outlook
The meetings underscore Uganda’s broader strategy to leverage international partnerships to accelerate infrastructure development and economic transformation. With a growing portfolio and renewed financing discussions, officials say the focus is now shifting toward execution, ensuring that investments deliver jobs, improved services, and sustained growth.