President Museveni has met with a delegation from the World Bank led by Qimiao Fan, Division Director for Kenya, Rwanda, Somalia, and Uganda. He was accompanied by Francisca Ayodeji Akala and Tonderai Fadzai Mukonoweshuro.
The meeting took place at State Lodge Nakasero and was also attended by the Minister of Finance, Planning and Economic Development, Matia Kasaija; Maris Wanyera; the Attorney General, Kiryowa Kiwanuka; and the Permanent Secretary for the Ministry of Finance, Ramathan Ggoobi.
During the meeting, President Museveni welcomed the World Bank's decision to support the development of the Standard Gauge Railway (SGR), both through financing and by assisting in structuring sustainable funding mechanisms for the project.
"These are the funds I want. I want funds for capacity building and to provide the basics for production at lower costs," he said.
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President Museveni noted that the railway is a crucial component in reducing transportation costs and enhancing regional connectivity.
"That's why we are saying the railway should be for heavy cargo, the pipeline for petroleum products. The railway and water transport should handle cargo, while roads remain for passengers and light cargo," he added.
He highlighted affordable electricity, access to low-cost financing, and efficient transport systems as key drivers of economic growth.
President Museveni also expressed satisfaction with the World Bank's proposal to support agricultural industrialisation.
"I'm also happy with the proposal to support agricultural industrialisation and agro-processing," he said.
He underscored the importance of value addition in agriculture to boost productivity, create employment, and expand export potential.
"The system here, even in universities, was to train people to produce raw materials, but value addition was not emphasized," he noted.
He commended the World Bank for its continued partnership and commitment to promoting shared prosperity and inclusive development globally.
Qimiao Fan commended Uganda for its continued efforts toward economic stability and growth and pledged financial support for projects such as the SGR.
"I'm happy to say that I have the documents and the World Bank seriously pledges to support you financially," he said.
He also affirmed the World Bank's commitment to supporting investments in energy and transport, highlighting these sectors as key drivers of sustainable development.
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Qimiao Fan further noted that the World Bank will support agribusiness through training initiatives aimed at boosting value addition and skills development in the agriculture sector.
