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World Bank offers UGX170 Bn for export promotion

Peter 22nd Jul, 2025 Trade Pedson Mumbere
World Bank offers UGX170 Bn for export promotion

Ugandan export goods await loading onto ships at Mombasa Port in Kenya. FILE PHOTO


The Government of Uganda has received UGX 170 billion as the first tranche of a UGX 800 billion financing package from the World Bank under the Investment for Industrial Transformation and Employment (INVITE) Trust. This funding aims to boost manufacturing and export-oriented enterprises by easing access to affordable financing.

The funds are part of a broader initiative to enhance Uganda’s industrial transformation through the provision of low-cost capital and business development services.

The INVITE Trust is managed by the Private Sector Foundation Uganda (PSFU) and is designed to support private sector players involved in value addition, manufacturing, and export development.

  • The announcement followed a meeting of the INVITE Investment Committee held on July 15, 2025, which confirmed that all conditions precedent to disbursement had been met.

The meeting brought together key stakeholders, including the Ministry of Finance, Planning and Economic Development (MoFPED), represented by Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, and the Bank of Uganda, represented by Governor Dr. Michael Atingi-Ego.

Speaking during the meeting, Ggoobi emphasized the significance of the initiative, noting that it is aligned with the government’s long-standing efforts to expand access to affordable finance.

  • “The Government is determined to increase access to affordable finance. I commend the Investment Committee for the recent onboarding of KPMG as Trust Manager and look forward to the full operationalization of all the financing facilities,” he said.
World Bank offers UGX170 Bn for export promotionBoU Governor Michael Atingi-Ego (3L) and Ministry of Finance Permanent Secretary Ramathan Goobi (3R) pose with other members of the INVITE Investment Committee.

Dr. Atingi-Ego echoed the sentiment, highlighting the broader economic implications of the program.

“This is a long-term game-changer for Uganda’s financing landscape. The success of the INVITE Trust will have far-reaching implications for economic transformation,” he noted.

He also underscored the critical custodial role the Bank of Uganda will continue to play in the financial operations and oversight of the Trust.

The INVITE Trust is a Government of Uganda initiative financed not only by the World Bank but also supported by other development partners, including the Netherlands, United States, and the European Union.

  • The full funding commitment from the World Bank alone stands at UGX 800 billion, aimed at catalyzing private sector-led industrialization over the next five years.
  • Through this initiative, the government seeks to bridge the financing gap facing small and medium-sized enterprises (SMEs) and large-scale manufacturers, especially in value chain development for exports.

According to PSFU, eligible enterprises will access financial support in the form of loans, guarantees, and grants, with tailored Business Development Services (BDS) to increase their productivity and competitiveness.

As of July 2025, the government has confirmed that over 60 enterprises have been pre-selected for initial support under the UGX 170 billion disbursed, with projected job creation of over 18,000 direct and indirect jobs in the first year.

The successful roll-out of the INVITE Trust facilities is expected to reduce Uganda’s import dependency, increase foreign exchange earnings, and contribute to the government’s target of growing the manufacturing sector’s contribution to GDP from the current 15% to 25% by 2030.

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