Finance Minister Henry Musasizi has launched the Uganda Country Partnership Framework (CPF) and the Public Finance Review (PFR), two key reports aimed at supporting Uganda’s long-term economic transformation agenda.

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

Aligned with Uganda’s tenfold growth strategy and the priorities of the National Development Plan IV (NDP IV), the framework adopts a One World Bank approach and seeks to mobilize and enable private capital at scale, targeting up to USD 3.8 billion.

The framework places emphasis on wealth creation, job creation, strengthened economic governance, healthier and better-skilled people, and better-connected communities through access to quality infrastructure. It also seeks to promote a more productive and inclusive private sector.

The Public Finance Review provides an analysis of Uganda’s fiscal outlook as the country enters its oil-producing era. The report notes that sustainable prosperity will depend not only on oil revenues but also on strong institutions, efficient public expenditure, enhanced domestic revenue mobilization, and continued investment in the people of Uganda.

Speaking during the launch at Golden Tulip Hotel, Musasizi said the government remains focused on prudently implementing the tenfold growth strategy to transform Uganda into a 500-billion-dollar economy.

“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,” he said.

The minister noted that despite multiple global shocks, Uganda has maintained macroeconomic stability while strengthening public financial management, enhancing fiscal transparency, improving debt management, expanding domestic revenue mobilization, and reinforcing 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,” Musasizi added.

World Bank Division Director for Kenya, Rwanda, Somalia and Uganda, Qimiao Fan, said the institution is shifting from isolated projects to comprehensive sector-wide interventions and remains committed to supporting Uganda’s transformation agenda.

The launch of the two reports marks a significant step in strengthening cooperation between Uganda and the World Bank Group as the country pursues economic growth, private sector development and improved public financial management.