Uganda is among the other African countries that will continue to receive financial support from the World Bank so as to grow its economy to better levels.

A statement released on July 30 by the World Bank Group says the latter committed a record US$14.7 billion in fiscal year 2013 (July 2012 to June 2013) to support economic growth and better development prospects in Africa despite uncertain economic conditions in the rest of the global economy.

"Africa is at the center of the World Bank Group 2030 goals of ending extreme poverty and promoting shared prosperity, in an environmentally, socially, and fiscally sustainable manner," said Makhtar Diop, the World Bank Vice President for the Africa Region.

"The region has shown remarkable resilience in the face of a global recession and continues to grow strongly," he added.

The Group continued its strong commitment to Africa approving $8.25 billion in new lending for nearly 100 projects this fiscal year (FY13).

These commitments include a record $8.2 billion in zero-interest credits and grants from the International Development Association (IDA), the World Bank's fund for the poorest countries.

"This is the highest level of new IDA commitments by any region in the Bank's history," the statement reads in part.