By Gloria Gwitabinji
Finance Minister Henry Musasizi has launched the Uganda Country Partnership Framework and the Public Finance Review, two World Bank-backed reports that set out Uganda’s development financing and public finance priorities as the country moves into its oil decade.
The Uganda Country Partnership Framework is a 10-year operational strategy through which the World Bank Group will support Uganda’s ambition to become a modern, prosperous and competitive upper-middle-income country by 2040.
The framework is aligned with Uganda’s Tenfold Growth Strategy and the Fourth National Development Plan, with a focus on wealth creation, jobs, economic governance, human capital and infrastructure.
Under the plan, the World Bank Group expects to mobilise and enable private capital at scale, estimated at USD 3.8 billion, to support Uganda’s development priorities.
The framework also places emphasis on a more productive and inclusive private sector, better skilled and healthier people, and communities connected to quality infrastructure.
Launching the reports at Golden Tulip Hotel, Musasizi said government will focus on disciplined execution of the Tenfold Growth Strategy, which seeks to grow Uganda into a USD 500 billion economy.
“Our focus going forward will remain on prudently executing the tenfold growth strategy to turn Uganda into a 500-billion-dollar economy, enforcing absolute discipline, enhancing revenue mobilization, wealth creation and oil revenue management,” Musasizi said.
The Public Finance Review comes as Uganda prepares for expected oil revenues. It warns that sustainable prosperity will not depend on oil money alone, but on strong institutions, efficient spending, domestic revenue mobilisation and continued investment in Ugandans.
Musasizi said Uganda has maintained macroeconomic stability despite global shocks, while strengthening public financial management, fiscal transparency, debt management, domestic revenue mobilisation and public investment management.
“As we scale up public investment, let us remember that development is not measured by the size of our budgets, the number of projects approved or policies adopted but by the lives transformed, opportunities created and lasting impact on citizens,” he said.
World Bank Division Director for Kenya, Rwanda, Somalia and Uganda, Qimiao Fan, said the Bank is shifting from isolated projects to broader sector-wide interventions.
He said the World Bank remains committed to supporting Uganda’s transformation agenda through coordinated financing, policy support and private sector mobilisation.
The launch comes at a time when government is seeking to raise growth, improve service delivery and prepare public institutions for the management of oil revenues.
