The Uganda delegation at the IMF/WB Spring Meetings 2026 in Washington D.C. has met with the World Bank Vice-President for Africa region Mr. Ndiame Diop to discuss developments in Uganda’s economy and the performance the World Bank portfolio in Uganda.
The Minister of State for Finance in charge of General Duties said Uganda’s economy has continued to expand despite the challenging global environment, adding that current GDP stands at 6.3, with a projected growth of between 6.5% and 7% by end of this financial year and double digit over the medium term.
“This growth trajectory is well aligned to our ambition to grow the economy tenfold by 2040,” said the Minister.
He said World Bank portfolio has grown from USD 3.9 billion as of March 2025 to USD 4.74 Billion now with 18 projects/programs.
“We thank the Bank for the approval of the Uganda Cities and Municipal Infrastructure program and additional financing to the Integrated Water Management Development Project. We look forward to the approval of Uganda Tanzania Transmission Line project and additional financing to the Lot 1 of the North Eastern Road Asset Management Project,” said Musasizi.
He also said government seeks the Bank’s support in financing using a programmatic approach, the growth drivers of our tenfold strategy including: the Standard Gauge Railway, Hydro power generation, Urban Infrastructure, drainage and waste management, transmission line and substations in mainly Industrial parks and private sector support especially access to credit in addition to Development Policy Operations.
The Bank’s Vice- President lauded Uganda for the macroeconomic stability but urged Uganda to translate growth of the economy into good jobs and poverty reduction.
He also commended Uganda for her solidarity with refugees, adding that the Bank is ready to develop a programme to support Uganda in hosting the refugees.
Mr. Diop also called for efficiency in the implementation of projects and improvement in the disbursement of funds.
The delegation also had a session with the World Bank on INVITE-Export guarantee scheme and the recommendations are that INVITE should be restructured to meet the expectations of the beneficiaries. Another session was held on the energy sector in Uganda to agree on the key reforms that must be implemented to improve the performance of the energy sector.
In a separate meeting, Uganda’s delegation met with Japan International Cooperation Agency officials Yushi Nagano, the Head of Africa Investment and Shinohara Shunei the Africa Department Senior Deputy Director General to discuss the financing of projects in Uganda. The key projects are the Kampala Flyover project and the Kampala Metropolitan Transmission system.
