Uganda Development Bank reinforces commitment to climate action.
Uganda Development Bank (UDB), the country's national development finance institution has continued to reinforce it's commitment to advance Uganda's climate action.
Uganda Development Bank (UDB), the country’s national development finance institution has continued to reinforce it’s commitment to advance Uganda’s climate action.
Banking on its sustained efforts to mobilize climate finance, the Bank is strengthening partnerships, unlocking green investment opportunities and accelerating financing for commercial viable, climate resilient projects across priority sectors of the economy.
The announcement was made recently during the Pre-COP 31 national forum held at silver spring Hotel in Bugolobi Kampala.
The forum brought together government agencies, development partners, civil society and private sector players to collectively reflect on Uganda’s climate ambition and chart a strategic course towards a meaningful engagement at COP 31.
The 31st United Nations climate change conference COP31 will be held Turkey from 9th – 20th November 2026 with world leaders, experts, society representatives discussing joint solutions to combat climate change and build a sustainable future.
While giving his remarks at the Pre-COP31 national forum, the minister of state for environment Hon.Beatrice Anywar said the forum was a key opportunity to consolidating Uganda’s priorities in the seven key negotiations on areas such as adaptation, mitigation, climate finance, technology, capacity building, gender and compliance.
” Our goal is to agree on common position and approach that reflects the priorities and aspirations of our people as we respond to existing threats of climate change, Beatrice Anywar said.
” Uganda is an agricultural country and our farmers need reliable water source in the face of prenial drought and they also need predictable, reliable weather forecast, Beatrice Anywar added.
” Uganda will continue to advocate for adequate, predictable and accessible finance with particular emphasis on grant based support for adoption and the needs of least developed countries, our ministries, agencies, local government and partners must work together to prepare for a credible proposal, identify financing opportunities and account for results, added Beatrice Anywar.
” Uganda Development Bank has taken deliberate institutional steps to position climate finance as a central pillar of its development financing mandate, a key milestone in this journey has been establishment of dedicated climate financing facility and climate finance unit providing institutional architecture necessary to coordinate structure and scale the Bank’s green financing intervations said, Dr.Francis Mwesigye the director economic research and knowledge management at Uganda Development Bank.
During the Pre-COP 31 national forum Uganda Development Bank signed a memorandum of understanding to formalize the partnership that will among other things promote Uganda’s investment opportunities by highlighting bankable climate aligned projects in renewable energy, climate smart agriculture, sustainable infrastructure and green manufacturing.
In 2023 Uganda Development Bank launched the climate finance facility with a seed capital of shillings 50 billion to increase its green intervations for more sustainable impact.
