Uganda, China EXIM Bank seal deal to drive tenfold economic growth
KAMPALA, March 23, 2026 — Uganda has strengthened its economic partnership with the Export-Import Bank of China [Exim Bank] following high-level talks aimed at accelerating industrialisation and delivering a tenfold expansion of the economy.
The meeting in Kampala last week brought together Finance Minister Matia Kasaija and a delegation from the Chinese lender led by Vice President Yang Dongning, as both sides sought to deepen bilateral cooperation and support Uganda’s long-term economic transformation.
Kasaija said the country’s next phase of development will be anchored on the ATMS strategy, a central pillar of the government’s Tenfold Growth Strategy, which targets an expansion of the economy from US$ 50 billion to US$ 500 billion by 2040.
“Uganda is now shifting from exporting raw materials to building an industrial economy driven by value addition, manufacturing and innovation,” Kasaija said. “With the support of partners such as EXIM Bank of China, we are confident of achieving our ambition of growing the economy tenfold within the next 15 years.”
ATMS focuses on agro-industrialisation, tourism, mineral development, including oil and gas, and science, technology and innovation. The approach prioritises value addition and increased exports of key commodities such as coffee, cotton and tea.
The minister noted that Uganda is repositioning its economy to take advantage of China’s zero-tariff policy by shifting from raw material exports to processing, manufacturing and higher-value exports for global markets.
Accompanied by Permanent Secretary and Secretary to the Treasury [PSST] Ramathan Ggoobi, Kasaija expressed appreciation to the Government of China for its continued technical and financial support in sectors including transport, energy and health.
In a move expected to boost investment inflows, EXIM Bank of China committed to supporting the organisation of a “Uganda Day” in China. The platform will showcase Uganda’s investment opportunities, link local enterprises with Chinese manufacturers and financiers, and attract potential investors.
Yang said the bank remains committed to supporting Uganda’s industrial transformation through innovative financing solutions.
“EXIM Bank stands ready to deepen its partnership with Uganda by providing flexible and diversified financing to support key infrastructure, industrial parks and export-oriented projects,” Yang said. “We see strong potential in Uganda’s growth strategy and are keen to facilitate greater investment and trade between our two countries.”
Officials said the initiative forms part of a broader strategy to strengthen commercial diplomacy, deepen private sector partnerships and position Uganda as a preferred investment destination in Africa.
Both sides also agreed to scale up support for the development of industrial parks, with a focus on improving access to land, utilities and logistics infrastructure to enhance productivity and attract large-scale investments.
EXIM Bank reaffirmed its commitment to Uganda’s growth agenda through a diversified financing framework, including trade finance, blended financing models, equity investments and syndicated funding arrangements tailored to strategic projects.
Kasaija underscored the need for flexible financing structures to fast-track priority investments, while both parties emphasised strengthening technical and vocational education to equip the workforce with skills required to sustain industrial expansion and meet investor demand.
https://thecooperator.news/chinas-cooperatives-report-strong-sales-growth-from-2021-2025/
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