Uganda’s delegation to the IMF/World Bank Spring Meetings 2026 in Washington D.C. has held high-level discussions with the World Bank Vice-President for Africa, Ndiame Diop, focusing on the country’s economic performance and ongoing development partnerships.
During the meeting, the Minister of State for Finance (General Duties), Henry Musasizi, highlighted Uganda’s strong economic resilience despite global challenges.
He noted that the economy is currently growing at 6.3 percent, with projections of between 6.5 and 7 percent by the end of the financial year, and double-digit growth anticipated over the medium term.
“This growth trajectory aligns with Uganda’s ambition to expand the economy tenfold by 2040,” Musasizi said.
Minister Musasizi also revealed that the World Bank’s portfolio in Uganda has expanded significantly, rising from USD 3.9 billion in March 2025 to USD 4.74 billion, supporting 18 active projects and programmes.
He expressed appreciation for the Bank’s continued support, including the approval of key initiatives such as the Uganda Cities and Municipal Infrastructure Programme and additional funding for the Integrated Water Management Development Project.
Uganda is also seeking approval for strategic projects, including the Uganda–Tanzania Transmission Line and further financing for the North Eastern Road Asset Management Project.
Minister Musasizi emphasized the government’s focus on securing programmatic financing to drive major growth sectors under its long-term development strategy.
Priority areas include the Standard Gauge Railway, hydropower generation, urban infrastructure, drainage and waste management, electricity transmission in industrial parks, and private sector development, particularly access to credit.
In response, Diop commended Uganda for maintaining macroeconomic stability but urged authorities to ensure that economic growth translates into job creation and poverty reduction.
He also praised Uganda’s continued support for refugees and pledged the World Bank’s readiness to develop programmes to assist the country in managing refugee needs.
The Vice-President further called for improved efficiency in project implementation and faster disbursement of funds to maximize impact.
On the sidelines of the meetings, Uganda’s delegation engaged with World Bank officials on the INVITE Export Guarantee Scheme, recommending its restructuring to better serve beneficiaries. Discussions were also held on reforms needed to enhance the performance of Uganda’s energy sector.
In a separate engagement, the delegation met officials from the Japan International Cooperation Agency, including Yushi Nagano and Shinohara Shunei, to discuss financing for key infrastructure projects.
Among them are the Kampala Flyover Project and the Kampala Metropolitan Transmission System, both at advanced stages of completion.
The engagements underscore Uganda’s ongoing efforts to strengthen international partnerships and accelerate infrastructure development as part of its broader economic transformation agenda.
