World Bank renews funding to Uganda

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Christina Malmberg Calvo, new World Bank Country Manager for Uganda with HE President Museveni

The World Bank Group and Government of Uganda will hold an Open Day for the general public on May 30, 2017.

The event, “Partnering for Development,” will take place at Kololo Independence Grounds (airstrip) from 8am to 5pm.

An exciting array of activities will run throughout the day, including presentations and panel discussions on topical development issues, quizzes and competitions, photo exhibitions, tutorials, and lots of other performances illustrating the World Bank’s partnership.

More than 50 Ugandan government agencies will be showcasing their work and explaining how it is improving the lives of citizens throughout the country.

Representatives of the Government of Uganda and officials from the World Bank Group will be available all day to interact with the public, share information, and exchange views.

“The Open Day will be an opportunity to learn more about our work in the country and discuss how our support can have a positive impact on the lives of Ugandans,” said Christina Malmberg Calvo, World Bank Country Manager.

“We look forward to welcoming the general public in large numbers.”

The World Bank had stopped funding to Uganda due to poor financial habits, corruption, low disbursement and safeguard mechanisms.

Through its new Country Partnership Framework, the World Bank Group is supporting Uganda to raise rural incomes through agricultural commercialisation and support to poor and vulnerable Ugandans.

The Bank Group promotes inclusive growth in urban areas, and private sector competitiveness and investments in planning and infrastructure.

With other partners, it supports the Government of Uganda to improve health and education, economic governance, and fiscal management.

“The Government of Uganda has had a long-standing partnership with the World Bank Group,” said Hon. Matia Kasaija, Uganda’s Minister of Finance, Planning and Economic Development.

“For more than 50 years, together we have brought development to millions of Ugandans. As a result, social and infrastructure services have improved. Poverty has come down and will continue to do so.”

The World Bank Group’s portfolio in Uganda is worth close to US$3 billion in credits, grants, and guarantees covering national and regional operations.

About half of this supports infrastructure development—energy, roads, urban infrastructure, and ICT—and the rest agriculture, water and sanitation, education and health, social protection, and private sector development, and trade.

The portfolio is financed from International Development Association (IDA) credits and grants.

Uganda’s current IDA credits attract only an administrative service charge of 0.75 percent on the amount disbursed, with repayments stretched over 38 years and a 6-year grace period.