Uganda Needs Shs320tn to Finance Climate Commitments

What the report says

Uganda’s Ministry of Water and Environment says the country will need $78.1 billion, or about Shs320.6 trillion, over the next eight years to deliver on its climate commitments. Officials said about 85% of that financing is expected to come from external sources, underscoring how dependent the country remains on international climate funding. The figures were presented as part of a push to turn climate plans into projects that can attract investment.

Margaret Athieno Mwebesa, the Country Platform Coordinator for Climate Action Uganda, said Uganda should be mobilising at least $5 billion a year for climate action, but current funding remains well below that level. She cited separate needs for adaptation and mitigation, with adaptation taking the larger share. She also noted that Uganda has already developed several policy frameworks, including its Nationally Determined Contributions, National Adaptation Plan, Climate Finance Strategy, Fourth National Development Plan and Tenfold Growth Strategy.

Minister of Water and Environment Kahinda Otafiire said climate change could slow economic growth if government and partners do not invest more in resilient programmes. He made the remarks at the launch of the Uganda Climate Investment Platform, a government-led initiative meant to coordinate climate finance and make projects investment-ready. The platform will be led by the Ministry of Water and Environment, the Ministry of Finance, Planning and Economic Development, and the National Planning Authority, with early focus on nature, energy, agriculture and tourism. In general, such platforms are meant to improve coordination, reduce barriers to financing and draw in private investors, though the specific results for Uganda remain to be seen.