Finance Minister Calls for Improved Performance of World Bank Funded Projects

Finance Minister Henry Musasizi met the World Bank Division Director for Kenya, Rwanda, Somalia and Uganda Mr. Qimiao Fan to discuss the key development priorities, address implementation bottlenecks and strengthen the collaboration between Uganda and the World Bank.

“We deeply appreciate the World Bank’s continued partnership and commitment to Uganda’s socio-economic transformation,” said the Minister.

He said the longstanding partnership has contributed significantly to Uganda’s development through investments in transport, agriculture, energy, education, health, water and sanitation, social protection, governance and institutional development, helping to drive economic growth and improve the lives of Ugandans.

“We have seen our portfolio grow and now stands at USD 4.72 billion,” said Musasizi. He however but decried the low disbursement performance rate of 32% attributed to a number of factors on both Government and the Bank’s side.

Musasizi said both Government and the Bank must work together closely to ensure project performance improves drastically, adding that all projects must be aligned to ATMS and enablers.

The Minister also commended the Bank team for successfully concluding the Country Partnership Framework which provides a shared strategic roadmap for cooperation. It’s aligned to priorities such as enhancing domestic revenue mobilization, investing in productive infrastructure and promoting value addition and export growth.

The World Bank Division Director who was accompanied by the World Bank Country Manager Fransisca Ayodeji Akala and other officials congratulated the Minister upon his appointment as Uganda’s Finance Minister.

 Mr. Qimiao said he was delighted with the Vision of the Minister, adding that the Country Partnership Framework is aligned with Uganda’s tenfold growth strategy.

Regarding low disbursement, he singled out delayed procurement processes land acquisition and compensation of project affected persons, adding that government must focus on some of these issues to ensure disbursement improves to the required level.