Economy
Uganda Receives UGX170bn From World Bank to Boost Manufacturing and Exports Sectors
The Government of Uganda has received the first tranche of UGX 170 billion under a broader UGX 800 billion financing facility from the World Bank to support the country’s manufacturing and export value chains through the newly operational Investment for Industrial Transformation and Employment (INVITE) Trust.
The announcement was made following a high-level Investment Committee meeting held on Tuesday, July 15, 2025, attended by the Permanent Secretary/Secretary to the Treasury, Ramathan Ggoobi, and the Governor of the Bank of Uganda, Dr. Michael Atingi-Ego.
The funds were disbursed after Uganda fulfilled all conditions precedent, prompting the World Bank to release the initial tranche of the financing. The UGX 170 billion will be immediately deployed through eligible financial institutions as working capital for businesses in the manufacturing and export sectors.
Established under the World Bank-financed INVITE Project, the INVITE Trust serves as a special-purpose vehicle to increase access to affordable development financing, especially for Uganda’s industrial transformation agenda. The project aligns with Uganda’s Tenfold Growth Strategy, which aims to accelerate private sector-led growth, job creation, and improved livelihoods.
“Government is determined to increase access to affordable finance, especially for strategic sectors like manufacturing and exports,” said Mr. Ggoobi. “I commend the Investment Committee for their progress, including onboarding KPMG as the Trust Manager. We are now ready to roll out the full suite of financing tools.”
Dr. Atingi-Ego reiterated the central bank’s support and emphasised the Trust’s potential to reshape Uganda’s financing ecosystem. “The success of the INVITE Trust will have long-term implications for Uganda’s financial landscape,” he said, highlighting the Bank of Uganda’s role as the custodian of the Trust’s assets.
The full UGX 800 billion INVITE Project financing will be disbursed over time, with UGX 642 billion earmarked for private sector lending through four key facilities: Working Capital. Receivables Financing (Invoice Purchasing). Credit Guarantees. Patient Capital (all in local currency)
An additional UGX 158 billion, managed by the Private Sector Foundation Uganda (PSFU), will go toward grants for business development services to enterprises involved in the manufacturing and export value chains.
Funded by the World Bank and co-financed by development partners from the Netherlands, the United Kingdom, and Sweden, the INVITE Project is expected to create over 200,000 jobs, enhance private sector productivity, and unlock economic potential even in underserved regions, including refugee-hosting communities.
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