World Bank Unveils 10-Year Strategy to Boost Private Sector-led Growth in Uganda

he World Bank says expanding access to quality employment will be critical to reducing poverty and promoting long-term prosperity.

The World Bank Group has approved a new 10-year Country Partnership Framework (CPF) for Uganda, outlining a long-term strategy aimed at accelerating economic transformation and creating more employment opportunities for the country's growing population.

Covering the period from 2026 to 2035, the framework was developed in partnership with the Ugandan government and aligns with the country's Vision 2040 and Fourth National Development Plan. The strategy seeks to harness Uganda's youthful population, natural resources, and economic potential to deliver higher incomes, stronger productivity, and improved living standards.

Job creation sits at the centre of the plan, with an estimated 600,000 to 700,000 young people entering Uganda's labour market every year. The World Bank says expanding access to quality employment will be critical to reducing poverty and promoting long-term prosperity.

Investment targets education, health and infrastructure

The framework is built around four major priorities: strengthening economic governance, improving health and education outcomes, enhancing connectivity through infrastructure development, and supporting a more productive and inclusive private sector.

World Bank Country Manager for Uganda Francisca Ayodeji Akala said the strategy reflects a commitment to investing in people, institutions, and infrastructure that can drive sustainable economic growth. She noted that stronger employment opportunities will help improve living standards and support communities across the country.

Several ambitious development targets have been outlined for the next decade. The World Bank Group aims to help double energy access, reaching 50 million people by 2035. Plans also include improving healthcare, nutrition, and population services for 22 million people and supporting better education and skills development for 10 million students. Transport projects are expected to benefit 20 million people, while expanded financial services could reach 14 million individuals and businesses, including nine million women. Agricultural productivity is also expected to improve significantly, with targeted value chains aiming to double yields.

Billions planned for public and private investment

A key feature of the strategy is the World Bank Group's "One WBG" approach, which combines resources and expertise from the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). The World Bank anticipates lending around $2 billion during each three-year IDA funding cycle, building on its current $4 billion portfolio in Uganda. In addition, the strategy seeks to attract up to $1.3 billion in private investment and mobilize a further $2.5 billion from private capital markets.

IFC will focus on supporting private sector investments across key industries, while MIGA will provide guarantees to reduce risks for foreign investors. Officials believe these measures will help strengthen investor confidence and unlock long-term capital needed to support Uganda's economic transformation.