Uganda’s Permanent Secretary and Secretary to the Treasury (PSST), Dr Ramathan Ggoobi, has concluded high-level discussions in London, United Kingdom, aimed at mobilising long-term financing for key infrastructure and productive investment projects under the country’s Tenfold Growth Strategy.

The talks brought together international lenders, European export credit agencies (ECAs) and multilateral development partners to explore affordable financing options for projects expected to support Uganda’s economic transformation. The priority areas include the Standard Gauge Railway (SGR), electricity transmission, commercial irrigation, strategic road networks, healthcare and industrial manufacturing.

According to the information provided, the discussions focused on securing competitively priced, long-term credit and guarantees to attract private investment while reducing the cost of financing major public infrastructure projects. Potential financing arrangements backed by the World Bank were also explored.

Institutions engaged during the London mission included Standard Chartered Bank, Citibank, the World Bank and European export credit agencies. The discussions centred on identifying financing structures that could help Uganda advance its priority projects while managing the cost and risks associated with public borrowing.

Dr Ggoobi also met with portfolio investors and encouraged them to increase their investments in Uganda. He highlighted the country’s macroeconomic performance and potential investment returns as factors that could support greater investor participation in the economy.

The PSST emphasised that securing financing should lead to the actual completion of projects capable of reducing the cost of doing business, improving Uganda’s export competitiveness and creating employment opportunities. He also stressed the importance of maintaining long-term debt sustainability as the government pursues its infrastructure and economic development priorities.

The financing initiative is linked to Uganda’s Tenfold Growth Strategy, which seeks to accelerate economic growth by expanding productive activities, strengthening infrastructure and improving the conditions for investment and business development.

The Standard Gauge Railway is among the major projects identified for financing, alongside investments in electricity transmission, irrigation, roads, healthcare and industrial manufacturing. These sectors are central to improving connectivity, supporting production and strengthening the country’s capacity to compete in regional and international markets.

Dr Ggoobi was accompanied during the mission by Mr Juvenal Muhumuza, Commissioner for Development Assistance and Regional Cooperation at the Ministry of Finance, Planning and Economic Development (MoFPED).

At the conclusion of the engagements, Dr Ggoobi and the development partners agreed on the next steps for advancing the priority projects. These include technical appraisal, negotiations on financing terms and obtaining the necessary approvals.

The discussions mark a further step in Uganda’s efforts to mobilise long-term capital for infrastructure and productive investment. However, the financing arrangements will need to progress through the agreed appraisal, negotiation and approval processes before their final terms and implementation can be established.