Govt seeks more World Bank funding for major projects

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The Ugandan government has asked the World Bank to approve more funds for the country's major infrastructure projects.

This was during a meeting between the Ugandan delegation at the International Monetary Fund/World Bank Spring Meetings 2026 in Washington DC and the World Bank Vice-President for Africa region, Ndiame Diop, on Thursday (April 16).

The meeting discussed developments in Uganda’s economy and the performance of the World Bank portfolio in Uganda, according to the statement by the ministry of finance.

The finance state minister for general duties, Henry Musasizi, thanked the World 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 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 its tenfold strategy.

This strategy includes 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 minister told the bank that Uganda’s economy has continued to expand despite the challenging global environment, adding that current gross domestic product stands at 6.3 percent, with a projected growth of between 6.5 percent and 7 percent 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 Musasizi.

He also noted that the World Bank portfolio has grown from $3.9 million as of March 2025 to $4.74b (sh17.5 trillion) now with 18 projects/programmes. 

The banks' vice-president lauded Uganda for the macroeconomic stability but urged the government 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.

Diop also called for efficiency in the implementation of projects and improvement in the disbursement of funds.