Ministry of Finance Launches New World Bank Group Partnership Framework to Support Uganda’s Growth Agenda

Uganda has launched a new 10-year Country Partnership Framework (CPF) with the World Bank Group, setting out a long-term strategy to support the country’s ambition of becoming a modern, prosperous and competitive upper-middle-income economy by 2040.

The framework, unveiled by Finance Minister Henry Musasizi in Kampala on Tuesday, aligns with Uganda’s Tenfold Growth Strategy and the Fourth National Development Plan (NDP IV). It seeks to mobilize an estimated US$3.8 billion in public and private investment to drive economic transformation.

The partnership focuses on creating wealth, generating better jobs, strengthening economic governance, improving healthcare and education, expanding quality infrastructure, and promoting a more productive and inclusive private sector.

Alongside the framework, the Ministry of Finance also launched the latest Public Finance Review, which assesses Uganda’s fiscal outlook as the country prepares for commercial oil production. The report notes that while oil revenues present significant opportunities, Uganda’s long-term prosperity will depend on strengthening institutions, improving public spending efficiency, increasing domestic revenue collection, and continuing to invest in its people.

Speaking during the launch at Golden Tulip Hotel, Finance Minister Henry Musasizi said the government remains committed to implementing its economic transformation agenda with fiscal discipline.

“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.

He added that Uganda has maintained macroeconomic stability despite several global economic shocks. According to the minister, the country has strengthened public financial management, improved fiscal transparency, enhanced debt management, increased domestic revenue mobilization, and reinforced public investment management.

Musasizi also emphasized that development should ultimately be judged by its impact on citizens.

“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 institution is adopting a broader approach to development support in Uganda.

“The World Bank is moving away from isolated projects to comprehensive sector-wide interventions,” Fan said, adding that the Bank remains fully committed to supporting Uganda’s transformation agenda.

The new partnership framework is expected to guide World Bank support over the next decade as Uganda pursues higher economic growth, increased private sector investment and improved public service delivery.