The Minister of Finance, Planning and Economic Development, Henry Musasizi, has said the Uganda Country Partnership Framework and the Public Finance Review are central instruments in supporting Uganda’s ambition to transform into a modern, prosperous and competitive upper-middle-income country by 2040.
He made the remarks on Monday at the Golden Tulip Canaan Kampala while speaking during the launch of the two reports.
He said the Uganda Country Partnership Framework is a 10-year operational strategy that outlines how the World Bank Group will support Uganda’s development agenda through a One World Bank approach aligned with Uganda’s tenfold growth strategy and the Fourth National Development Plan (NDP IV).
Musasizi noted that the framework is designed to mobilise and enable private capital at scale to the tune of USD 3.8 billion.
According to him, the framework places emphasis on wealth creation, better jobs, strengthened economic governance, healthier and better-skilled people, better-connected communities through access to quality infrastructure, and a more productive and inclusive private sector.
On the Public Finance Review, Musasizi said it provides critical analysis as Uganda enters its oil production era, with a key recommendation that sustainable prosperity will depend not only on oil revenues but also on strong institutions, efficient public expenditure, enhanced domestic revenue mobilisation and continued investment in the people of Uganda.
He said that as government continues implementing the tenfold growth strategy, the focus remains on transforming Uganda into a USD 500 billion economy while enforcing fiscal discipline, enhancing revenue mobilisation, promoting wealth creation and strengthening oil revenue management.
“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,” Musasizi said.
He added that despite multiple global shocks, Uganda has maintained macroeconomic stability, strengthened public financial management, enhanced fiscal transparency, improved debt management, expanded domestic revenue mobilisation and reinforced public investment management.
Musasizi further emphasised that development should not be measured by the size of budgets, the number of projects approved or policies adopted, but by the lives transformed, opportunities created and the lasting impact on citizens.
“Development is ultimately about improving the lives of our people, creating opportunities and delivering sustainable benefits that uplift communities and drive national prosperity,” he said.
The Qimiao Fan said the World Bank is shifting from isolated projects to comprehensive sector-wide interventions and reaffirmed the Bank’s commitment to supporting Uganda’s transformation agenda.
He noted that the Bank’s new approach seeks to maximise development impact by integrating investments across key sectors, strengthening institutions and leveraging private sector participation to accelerate inclusive growth.
The launch of the two reports comes at a critical time as Uganda prepares for first oil and intensifies efforts to achieve its long-term development aspirations under Vision 2040 and the tenfold growth strategy aimed at expanding the economy to USD 500 billion.
