KAMPALA, October 20, 2025 — Uganda has successfully concluded participation in the 2025 Annual Meetings of the International Monetary Fund [IMF] and the World Bank in Washington D.C., securing a significant financial commitment aimed at accelerating the country’s development agenda.
Permanent Secretary and Secretary to the Treasury [PSST] Ramathan Ggoobi announced today that Uganda will receive US$ 2 billion in concessional financing from the World Bank over the next three financial years. He said World Bank’s current total investment is US$ 4.9 billion.
“We are investing this money in vital infrastructure and services—roads and bridges, electricity transmission and last-mile distribution, regional city infrastructure, schools, IT, agriculture, water and irrigation, export guarantee schemes, skills development, and social protection,” Ggoobi stated.
In a boost for the country’s private sector, Ggoobi said the International Finance Corporation [IFC] will also offer patient capital to investors in strategic sectors such as mineral development, renewable energy, agro-industrialisation, science and innovation, and will co-invest alongside the Ugandan government in State-Owned Enterprises [SoEs].
Negotiations also continued with the IMF on a new Extended Credit Facility [ECF] programme, which is expected to be agreed post-election. Ggoobi said Uganda is targeting key reforms under the new programme, including strengthening domestic revenue mobilisation, improving fiscal discipline to curb supplementary budgets, and enhancing the resilience of the financial sector.
He also said the World Bank reaffirmed its support for Uganda’s ambitious tenfold growth strategy, including targeted investments in Area-Based Transformative Measures [ATMS] and their enablers. Meanwhile, he said the IMF already pledged continued assistance in maintaining Uganda’s macroeconomic stability.
Ggoobi also noted positive engagements with Ugandans employed at both Bretton Woods institutions. “The Fund continues to rank Uganda among the fastest-growing economies in Africa, and by extension, the world,” he added. “Our macroeconomy is stable, and we remain focused on building a richer and more prosperous Uganda.”
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