World Bank to Provide over $2 Bln in Renewed Dev't Financing to Uganda

World Bank to provide over $2 bln in renewed dev't financing to Uganda

KAMPALA, UGANDA | Xinhua | Uganda will receive more than two billion U.S. dollars in new concessional financing from the World Bank over the next three financial years to support the East African country’s development agenda, a senior government official said Tuesday. Ramathan Ggoobi, permanent secretary and secretary to the Treasury at the Ministry of Finance, Planning, and Economic Development, said the financing is part of renewed World Bank …

Uganda Secures $2bn World Bank Fund as IMF Hails Nation's 'Fastest-Growing' Economy in Africa

The World Bank will disburse over $2 billion in new money to finance Uganda’s development over the next three financial years, bringing the total current investment to $4.9 billion. This is contained in a statement released by the Permanent Secretary to the Treasury and Secretary to the Ministry of Finance, Planning, and Economic Development (PSST), Ramathan Ggoobi, detailing the outcomes of the 2025 International Monetary Fund (IMF) and World B…

World Bank Restores $2 Billion Concessional Funding To Uganda After Two-Year Suspension

The World Bank has reinstated over $2 billion in concessional financing to Uganda, ending a two-year suspension and reinforcing its commitment to the country’s development strategy. The financing will support key sectors of the Ugandan economy, including infrastructure, energy, and industrial projects, as part of the government’s long-term growth plan. Uganda’s Secretary to the Treasury, […] The post World Bank Restores $2 Billion Concessional F…

Uganda Secures UGX7 Trillion From World Bank After 2-Year Funding Freeze » Business Focus

Ramathan Ggoobi (Centre), Uganda’s Permanent Secretary and Secretary to the Treasury and the Ugandan delegation at the the 2025 International Monetary Fund/World Bank Annual Meetings in Washington D.C. Uganda has secured $2 billion (UGX6.95 trillion) from World Bank after two-year funding freeze. The World Bank suspended new concessional funding to Uganda in August 2023 due to the country’s Anti-Homosexuality Act. The suspension was based on the…

World Bank back on board with Shs 7 trillion funding to Uganda

The World Bank has officially restored its financial engagement with Uganda, paving the way for the disbursement of $2billion or approximately Shs 7 trillion in new funding.  The move effectively ends a two-year freeze on new public loans, which had created considerable fiscal strain on the nation.  The resumption of aid is contingent upon Uganda implementing agreed-upon mitigation measures to ensure that the development projects adhere to the m…