KAMPALA, June 26, 2026 — Uganda’s Minister of Finance, Planning and Economic Development, Henry Musasizi, has met the World Bank Division Director for Kenya, Rwanda, Somalia and Uganda, Fan Qimiao, to discuss key development priorities, address implementation bottlenecks and strengthen cooperation between Uganda and the World Bank.
“We deeply appreciate the World Bank’s continued partnership and commitment to Uganda’s socio-economic transformation,” said Musasizi as his team met World Bank officials at the ministry’s headquarters in Kampala.
The Minister noted that the longstanding partnership has contributed significantly to Uganda’s development through investments in transport, agriculture, energy, education, health, water and sanitation, social protection, governance and institutional development, helping to drive economic growth and improve the livelihoods of Ugandans.
“We have seen our portfolio grow and it now stands at US$ 4.72 billion,” Musasizi said.
However, he expressed concern over the low project disbursement rate of 32 per cent, which he attributed to a number of factors on both the Government and World Bank sides.
Musasizi said both government and the Bank must work more closely to ensure project performance improves significantly, adding that all World Bank-funded projects should align with Uganda’s ATMS priorities and related enablers.
Uganda’s ATMS strategy is a bold macroeconomic blueprint designed to expand the country’s economy tenfold, from roughly US$ 50 billion to US$ 500 billion by 2040. The acronym stands for four high-impact growth sectors: Agro-industrialisation, Tourism, Mineral-based industrialisation [including oil and gas], and Science, Technology & Innovation [including ICT].
The Minister also commended the World Bank team for successfully concluding the Country Partnership Framework, which provides a shared strategic roadmap for cooperation.
He said the framework is aligned with Uganda’s development priorities, including enhancing domestic revenue mobilisation, investing in productive infrastructure, and promoting value addition and export growth.
Fan Qimiao, who was accompanied by the World Bank Country Manager, Fransisca Ayodeji Akala, and other World Bank officials, congratulated Musasizi on his appointment as Uganda’s Finance Minister.
Qimiao said he was encouraged by the Minister’s vision and noted that the Country Partnership Framework is closely aligned with Uganda’s tenfold growth strategy.
Addressing the challenge of low disbursement, Qimiao attributed the delays to procurement bottlenecks, land acquisition challenges and compensation processes for project-affected persons. He said Government should prioritise resolving these issues to improve project implementation and achieve the desired disbursement levels.
The meeting was also attended by the Minister of State General Duties, Cissy Mulondo.
https://thecooperator.news/finance-ministry-outlines-tough-measures-to-curb-rising-public-debt/
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