The Uganda Development Bank (UDB) has signed a landmark Memorandum of Understanding (MoU) with the Ministry of Water and Environment and key partners to promote investments in renewable energy, sustainable infrastructure, and green manufacturing.
The agreement, formalised during the pre-COP30 National Forum, aims to advance Uganda’s transition toward a low-carbon, climate-resilient economy.
The partnership seeks to unlock financing for bankable climate projects while expanding opportunities in climate-smart agriculture, renewable energy access, and resilient infrastructure.
Stakeholders from government, development partners, civil society, and Uganda’s COP30 delegation attended the forum.
Speaking at the event, Mr. Denis Ochieng of UDB emphasized that climate action is now an economic priority integral to Uganda’s sustainable development.
“At the Uganda Development Bank, we recognise that addressing climate change is not just an environmental imperative—it is an economic and development priority,” Ochieng said.
“Our strategic priorities now integrate climate finance, green investments, and sustainable industrialisation as cross-cutting themes.”
Ochieng revealed that UDB has established a dedicated Climate Finance Facility to mobilize resources, structure sustainable interventions, and support low-carbon, climate-resilient investments across the country.
The facility is designed to help Uganda tap into international green funds while assisting local enterprises to adopt sustainable production and energy practices.
He also stressed the importance of partnerships in bridging the green financing gap.
“We have a huge ambition to mobilize green finance, increase access to credit, manage risk, and act as a financial intermediary through affordable green products. Alone we can only do so little, but with our partners, we are making big strides,” Ochieng said.
Looking ahead to COP30, he urged Ugandan stakeholders to position the country as a proactive driver of green growth, rather than merely a recipient of global climate funds.
“This partnership reinforces UDB’s commitment to financing climate-resilient development, supporting innovation in green industries, and ensuring Uganda’s economic transformation aligns with global sustainability goals,” he added.