Finance Minister launches World Bank–Uganda partnership framework, pledges disciplined push towards US$ 500bln economy
The framework aligns with the government’s Tenfold Growth Strategy and the Fourth National Development Plan [NDP IV], and seeks to mobilise and unlock private capital worth US$ 3.8 billion [about Shs 13.7 trillion]
KAMPALA, June 29, 2026 — Uganda has unveiled a long-term partnership framework with the World Bank aimed at accelerating the country’s transition to upper-middle-income status, with Finance Minister Henry Musasizi reaffirming the government’s commitment to disciplined economic management and the ambitious target of building a US$ 500 billion economy.
Speaking during the launch of the Uganda Country Partnership Framework and the Public Finance Review at the Golden Tulip Hotel in Kampala on Monday, Musasizi said the new partnership offers a clear roadmap for driving sustainable economic transformation through strategic investment, private sector expansion and improved governance.
The Uganda Country Partnership Framework is a 10-year operational strategy outlining how the World Bank Group will support Uganda’s ambition of becoming a modern, prosperous and competitive upper-middle-income country by 2040.
The framework aligns with the government’s Tenfold Growth Strategy and the Fourth National Development Plan [NDP IV], and seeks to mobilise and unlock private capital worth US$ 3.8 billion [about Shs 13.7 trillion].
The strategy prioritises wealth and job creation, stronger economic governance, improved healthcare and education, enhanced infrastructure, and the development of a more productive and inclusive private sector capable of sustaining long-term growth.
Launching the two reports, Musasizi said the government remains focused on implementing reforms that will preserve macroeconomic stability while ensuring economic growth translates into improved livelihoods for Ugandans.
“Our focus going forward will remain on prudently executing the Tenfold Growth Strategy to transform Uganda into a US$ 500 billion economy [about Shs1,800 trillion], enforcing fiscal discipline, strengthening revenue mobilisation, advancing wealth creation and ensuring effective oil revenue management,” Musasizi said.
The minister noted that despite a series of global economic shocks in recent years, Uganda has continued to demonstrate resilience through prudent fiscal management.
“Uganda has maintained macroeconomic stability, strengthened public financial management, enhanced fiscal transparency, improved debt management, expanded domestic revenue mobilisation and reinforced public investment management,” he said.
Musasizi urged all stakeholders to ensure public investment delivers meaningful outcomes for citizens rather than simply increasing government expenditure.
“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 added.
The newly launched Public Finance Review provides an assessment of Uganda’s fiscal position as the country prepares to enter the oil production era.
According to the report, while oil revenues present significant opportunities, achieving sustainable prosperity will depend on strengthening public institutions, improving the efficiency of public expenditure, increasing domestic revenue mobilisation and maintaining investment in human capital.
Speaking at the same event, World Bank Division Director for Kenya, Rwanda, Somalia and Uganda, Fan Qimiao, said the institution is shifting from supporting isolated development projects to implementing broader sector-wide interventions designed to generate more sustainable outcomes.
“The World Bank is moving away from isolated projects to comprehensive sector-wide interventions,” Qimiao said.
He added that the Bank remains fully committed to supporting Uganda’s economic transformation agenda.
The launch of the Uganda Country Partnership Framework and the Public Finance Review marks another milestone in Uganda’s long-term economic planning, as the government and the World Bank seek to leverage private investment, strengthen public financial management and accelerate inclusive growth in pursuit of Uganda’s Vision 2040 aspirations.
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