Global economics expert Sachs commits to supporting Uganda in formulation of NDPIV
Prof Sachs also pledged support towards enhancing the NPA’s planning capacity in formulating economic models and training on macroeconomics, financing and climate policy.
KAMPALA | Renowned professor of economics Jeffrey Sachs has committed to supporting the National Planning Authority (NPA) in the ongoing Fourth National Development Plan (NDPIV) formulation process.
Prof Sachs also pledged support towards enhancing the NPA’s planning capacity in formulating economic models and training on macroeconomics, financing and climate policy.
Sachs, made the pledges during an engagement with National Planning Authority (NPA) officials on formulation of fourth National Development Plan (NDPIV).
He is in the country upon invitation from the Prime Minister, Robinah Nabbanja, as a follow-up on Uganda’s sideline engagements during the 2023 UN General Assembly in New York.
A global leader in Sustainable Development, Sachs is also currently serving as the director, Centre for Sustainable Development at Columbia University.
During the engagement with NPA officials, Sachs also advised Uganda to consider long-term financing for national development.
“Uganda should consider long-term debt for high return investments with an internal rate of return above 15 percent and a debt cost lower than 4 percent. Uganda should also leverage financing partners such as China and the Gulf region,” Sachs said.
Prof Sachs and NPA Board members and technical staff at the Planning House.
He also highlighted the need for long-term strategic planning at various levels, including the local (parish level), national and regional planning for areas with shared ecosystems, while citing example of Lake Victoria for projects on infrastructure and services.
NPA had hosted Sachs for insights on the priorities for the upcoming fourth National Development Plan (NDPIV) and mechanisms to accelerate Uganda’s attainment of the United Nations (UN) Sustainable Goals (SDGs).
During the engagement, Prof Pamela Mbabazi, the NPA board chairperson highlighted the authority’s commitment to continuing to incorporate SDGs into the NDPs.
She added that the current NDP identifies industry, governance and environment as accelerators of development through the Uganda Intergrated SDGs (iSDG) model.
According to NPA, the engagement with Sachs underscores Uganda’s proactive approach towards harnessing global expertise to accelerate progress towards the SDGs and realising Uganda’a Vision 2040 targets of a prosperous, inclusive and sustainable future.
“His perspective for Uganda’s future is a highly diversified economy with agriculture, industry and services as significant growth drivers and a well-educated human resource with average years of schooling above 14 years.”
NPA is the government’s institution charged with developing comprehensive and i tergrated development plans with the incorporation of development agendas such as the SDGs.
