By Spy Uganda
Uganda is set to receive more than $2 billion in new concessional financing from the World Bank over the next three years, according to a statement by the Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, following the conclusion of the 2025 International Monetary Fund (IMF) and World Bank Annual Meetings in Washington, D.C.
In his statement, Ggoobi revealed that Uganda’s total ongoing investment with the World Bank now stands at $4.9 billion, with the new funds earmarked for critical infrastructure projects and social development programs.
“We are investing this money in roads and bridges, electricity transmission and last-mile distribution, infrastructure in regional cities, schools, IT, agriculture, water and irrigation, export guarantee schemes, skilling, and social protection,” said Ggoobi.
The World Bank also reaffirmed its commitment to supporting Uganda’s tenfold growth strategy, particularly in the areas of the Automated Transaction Monitoring System (ATMS) and its enablers. The Bank emphasized its focus on helping Uganda sustain macroeconomic stability while building a more prosperous economy.
On the global front, the IMF noted that the world economy remains resilient despite ongoing policy distortions in the United States and other major economies. Artificial intelligence (AI), according to the Fund, is driving productivity gains across sectors, with countries like Singapore, Denmark, and the U.S. leading the charge.
Ggoobi added that Uganda is continuing negotiations with the IMF for a new Extended Credit Facility (ECF) program after the 2026 elections. The discussions are centered on reforms to enhance domestic revenue collection, strengthen budget discipline, and improve financial sector stability.
In addition, the International Finance Corporation (IFC) will extend patient capital to private sector investors in Uganda’s key growth areas such as minerals, renewable energy, agro-industrialization, science and innovation, and State-Owned Enterprises (SoEs).
During the meetings, Ugandan officials also met with Ugandans working at the IMF and World Bank, who were briefed on the country’s economic performance. The IMF ranked Uganda among the fastest-growing economies in Africa, crediting the nation’s stable macroeconomic environment.
“The Fund has continued to rank Uganda among the fastest-growing economies in Africa, and by extension in the world. Our macroeconomy is stable,” Ggoobi noted.
The meetings underscored Uganda’s progress in economic management and its growing partnership with international financial institutions as it works toward achieving sustainable growth and development.
Below Is A Statement Inked By PS Ggoobi
STATEMENT BY THE PSST RAMATHAN GGOOBI ON IMFWB ANNUAL MEETINGS 2025
