Finance Minister Launches World Bank-Uganda Partnership Framework and Public Finance Review:

The Uganda Country Partnership Framework, is a 10-year operational strategy that lays out how the World Bank Group will support Uganda’s ambition to transform into a modern, prosperous and competitive upper-middle income country by 2040.

This one World Bank approach which is aligned with Uganda’s tenfold growth strategy and NDP IV priorities, plans to mobilize and enable private capital at scale to the tune of USD 3.8 billion.

It puts emphasis on wealth creation, better jobs, strengthened economic governance, healthier and better skilled people as well as better connected communities through access to quality infrastructure. It also focuses on having a more productive and inclusive Private Sector.

The Public Finance Review on other hand provides timely analysis as Uganda enters its oil decade, with a key recommendation that sustainable prosperity will not only depend on oil revenues but also strong institutions, efficient public expenditure, enhanced domestic revenue mobilization and continued investment in the people of Uganda.

“Our focus going forward will remain on prudently executing the tenfold growth strategy to turn Uganda into a 500-billion-dollar-economy, enforcing absolute discipline, enhancing revenue mobilization, wealth creation and oil revenue management,” said Finance Minister Henry Musasizi while launching the two reports at Golden Tulip Hotel.

He said despite multiple global shocks, Uganda has maintained macroeconomic stability, strengthened public financial management, enhanced fiscal transparency, improved debt management, expanded domestic revenue mobilization and reinforced public investment management.

 “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,” said Musasizi.

The World Bank Division Director, Kenya, Rwanda, Somalia and Uganda Mr.Qimiao Fan said the World Bank is moving away from isolated projects to comprehensive sector-wide interventions, adding that the Bank is fully committed to supporting Uganda’s transformation agenda.