Overview:
The Finance Minister and his delegation also met the Executive Director of the Africa Group 1 constituency ( representing Uganda) on the World Bank Board Dr. Floribert Ngaruko to discuss Uganda's economy and the World Bank portifolio.
Finance Minister Matia Kasaija and Secretary to Treasury Ramathan Ggoobi are leading Uganda’s delegation to the 2024, week-long annual meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington, D.C. (USA).
The meetings, which began on Monday, have brought together world leaders from government, business, international organisations, civil society, and academia.
Kasaija and his delegation participated in the Macroeconomic and Finance Management Institute for Eastern and Southern Africa (MEFMI) combined Forum for Finance Ministers, Secretaries to the Treasury and Central Bank Governors where they discussed issues of climate change, climate financing, debt sustainability challenges and opportunities for African economies.
Kasaija commended MEFMI for its commitment to addressing climate change.
“This dedication to promoting economic stability and sustainability development in our region is truly commendable,” said Kasaija
Prof. Christopher Adam from the University of Oxford said Central Banks should ensure that climate risks are adequately incorporated both in their own risk management and in that of the financial institutions they supervise.
The Finance Minister and his delegation also met the Executive Director of the Africa Group 1 constituency ( representing Uganda) on the World Bank Board Dr. Floribert Ngaruko to discuss Uganda’s economy and the World Bank portifolio.
Kasaija thanked the WB Executive Director for ably representing Uganda on the WB Board, adding that the Bank’s support to projects and programmes in key sectors such as services and agriculture has contributed to the growth of the economy to 6% during FY 2023/24.
The World Bank’s portifolio currently has 17 active projects with USD 4,037.16 million in commitments.