The First Lady and Minister of Education and Sports, Janet Museveni, has welcomed Prof. Jeffrey Sachs' advice to the government to secure long-term loans at low-interest rates and invest in priority areas for rapid economic growth.

Such areas include education, health, energy, agriculture, transport and digital revolution.

A renowned American economist and global leader in sustainable development, Sachs believes that Uganda's breakthrough to a high-income country in 40 years lies in a bold and forward-looking high-level public investment plan. 

This plan will be financed by long-term, low-interest rate loans, providing Uganda with the 30 to 40 years it needs for this economic growth to take shape.

Sachs is in Uganda for an official visit along with his wife, Sonia Ehrlich.

He has met and encouraged various leaders on feasible high-level public investment in priority areas to build human capital, infrastructure, business capital, and protect Uganda's natural capital, as these are key to rapid development.

The First Lady met the visiting couple at State House Nakasero on Tuesday.

The meeting was also attended by Prime Minister Robinah Nabbanja, finance minister Matia Kasaija, sports state minister Peter Ogwang, National Planning Authority (NPA) chairperson Prof. Pamela Mbabazi, among other officials.

The meeting emphasized the need for more investment in quality education, teachers, classrooms, online learning, and up-to-date curricula that truly empower the young generation and future generations.

'God sent us this message'

Welcoming her high-profile visitors, Mrs Museveni described Sachs' advice as a godsend at a time when Uganda is developing its National Development Plan IV and trying to prioritize areas of financing.

“We have been discussing and deliberating on what to prioritize in the education sector plan for the next five years. It has been a challenging task because we need everything. So, when you come in and say that we can do everything we want to do, it's as if God saw our situation and sent us this message," she said.

The education minister expressed relief from the burden they were struggling with and confidence that they can now plan better and hopefully deliver with the NDP IV this time.

However, she expressed disappointment with the Global Partnership for Education (GPE) cancelling the ready-to-begin programme of rehabilitating some old schools and training more teachers because the Parliament of Uganda passed the Anti Homosexuality Bill.

Premier Nabbanja said she invited the professor to Uganda after meeting him at the UN SDG Summit in New York last year. 

She was optimistic that he would connect Uganda to potential long-term financing countries and institutions. 

Nabbanja said that with his advice on long-term financing and if the money borrowed is put to good use, Uganda should not fear loans because not much can be done without money.

Finance minister Kasaija said that now that Sachs has opened the government's eyes to potential areas to get money at low interest rates and for long repayment periods, he is the happiest person.

'A kind of marathon'

On his part, Sachs explained that together with the African Development Bank, they are finalizing a report on rapid economic growth in Africa for the next 40 years. 

The premise of that study is that Africa can achieve at least 7% per year economic growth on a sustainable basis for the next 40 years, transforming the continent into what would then be a high-income economy.

“I believe this is the moment for a breakthrough to very rapid economic development for Uganda, and I hope for the whole of Africa. This is very much possible, but it requires hard work and it is a kind of marathon," said the professor.

"I am very keen to work with His Excellency the President and the Government of Uganda to help bring this about."

Sachs advised that the upcoming National Development Plan incorporates very bold objectives in each of the priority areas of education, health, energy, agriculture, urban, transport, and digitalization.

He pledged to be Uganda's champion in approaching potential partners to offer low-interest long-term loans to finance the plan.

He also promised to follow up with GPE's board and management to consider putting Uganda's programme back on track.

NPA boss Mbabazi said the big picture of the desired Uganda, embedded in the education for all, has to be got right in the planning. 

“One message we are taking back from the visit of Prof. Sachs is that no matter what we are doing, education is the biggest priority and in the next NDP4, we must lock in the fact that at least 10% of our GDP must be put in education,” she said.