Uganda has entered into a framework cooperation program with the Islamic Development Bank, securing $800 million in funding for development projects across the country. The announcement was made by Uganda's Ministry of Finance via its official X (formerly Twitter) account.
The signing ceremony took place during the 50th Annual Meeting of the Islamic Development Bank Group, held in Algiers from May 19 to 22. The partnership program, which will run from 2025 to 2027, is focused on supporting Uganda's economic progress and social development.
According to the Ministry of Finance, a top priority under the agreement is the development of climate-resilient infrastructure, with an emphasis on transport and energy sectors. These investments are expected to accelerate Uganda's structural transformation, boost agricultural productivity for greater food security, and help expand the country's export potential.
Another key area of cooperation involves strengthening human capital to promote inclusive growth. The program will pay special attention to improving healthcare, advancing the agricultural sector, developing the hospitality industry, supporting information and communication technologies, and strengthening Uganda's oil and gas industry.
This new agreement comes as part of broader efforts to boost regional development. In December 2024, the Board of Directors of the African Development Fund approved loans totaling 156.6 million euros for Burkina Faso and Mali, aimed at upgrading and paving cross-border roads linking these nations to Côte d'Ivoire. That project is jointly supported by the Islamic Development Bank and the European Union, contributing 138 million euros and 25 million euros, respectively, with the program scheduled to run through 2030.
Uganda's deal with the Islamic Development Bank signals its commitment to sustainable growth, poverty reduction, and deeper international cooperation as it looks toward a more prosperous future.
