World Bank boosts National Development Plan

This file photo taken on January 19, 2022, shows the headquarters of the World Bank in Washington, DC.PHOTO/AFP

What you need to know:

  • This will also aim at promoting green growth through inclusive and sustainable management of natural and tourism resources.

 The government in partnership with the World Bank this past week launched the Public Investment Management (PIM) initiative, an approach aimed at managing government expenditures and public infrastructure.

“The World Bank in Uganda is administering a multi-donor Trust Fund portfolio worth $34 million (Shs122.9 billion) to support the National Development Plan,” Ms R. Kariuki Mukami, the World Bank country manager, told journalists.

Ms Kariuki said the plan is aimed at fostering improvements in economic governance, fiscal management and service delivery.

She said this will be attained by addressing capacity gaps in operations to accelerate implementation of programmes within the public sector and/or removal of constraints to implementation within the public sector.

“This will also aim at promoting green growth through inclusive and sustainable management of natural and tourism resources, including activities aimed at combating climate change, strengthening community resilience, and enhancing private sector development and job creation,” she added.

Mr Hannington Ashaba, the representative of the Ministry of Finance, Planning and Economic Development, said the public investment management is aimed at wealth creation and creating employment opportunities for Ugandans since it is in line with the government’s strategy for economic development.

Mr Joseph Ahaissibwe, an economist at Ministry of Finance, Planning and Economic Development said: “As of the National Development Plan III multi donor fund, three departments under Ministry of Finance, Planning and Economic Development including project analysis, debt policy and issuance DPI and public private partnerships unit received grants under the strengthening capacities and institutions for the investment management system in Uganda.”

Welcome!

You're all set to enjoy unlimited Prime content.