economy 18 April 2026 Daily Monitor (Uganda)
World Bank Urges Uganda to Boost Jobs and Cut Poverty Amid Strong Growth
At the IMF/World Bank Spring Meetings in Washington DC, officials praised Uganda's economic resilience but stressed the importance of turning growth into jobs and poverty reduction. Finance Minister Henry Musasizi highlighted 6.3% GDP expansion and ambitions for tenfold growth by 2040. Source: https://www.monitor.co.ug/uganda/news/national/world-bank-tells-uganda-to-create-jobs-reduce-poverty-5427772
During high-level talks at the 2026 IMF/World Bank Spring Meetings in Washington DC on April 16, the World Bank called on Uganda to channel its macroeconomic stability into real gains for citizens, focusing on creating jobs and easing poverty.
World Bank Vice-President for Africa, Dr. Ndiame Diop, applauded Uganda’s handling of global challenges and its refugee hosting efforts. He pledged support for refugee programs and pushed for faster project execution to maximize development funds.
Junior Finance Minister Henry Musasizi emphasized the economy’s strength, with GDP at 6.3% and forecasts of 6.5-7.0% by year-end, aiming for double-digit growth soon. This supports the goal of expanding the economy tenfold by 2040.
The World Bank’s portfolio in Uganda has grown to $4.74 billion across 18 projects, up from $3.9 billion last year. Recent nods include urban infrastructure and water management initiatives. Uganda seeks more funding for railways, hydropower, cities, power lines, and private sector credit access.
Source: Daily Monitor