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The government has received the first tranche of Shs170 billion from the World Bank as part of a Shs800 billion financing deal aimed at supporting manufacturing and export value chains.
The funds, disbursed through the newly established INVITE Trust, will be used to operationalize a Working Capital facility through eligible financial institutions.
The move is part of the Investment for Industrial Transformation and Employment (INVITE) Project, which seeks to expand access to affordable financing for businesses in the manufacturing and export sectors.
Speaking during the briefing, Ramathan Ggoobi, Permanent Secretary and Secretary to the Treasury, welcomed the disbursement and reaffirmed the government’s commitment to increasing financial access for the private sector.
“We are determined to ensure affordable finance reaches the businesses that drive our industrial growth. This facility is a step forward in realizing Uganda’s Tenfold Growth Strategy,” Ggoobi said.
He also acknowledged the recent appointment of KPMG as Trust Manager, expressing confidence in the firm’s capacity to support the rollout of the programme.
Bank of Uganda Governor Michael Atingi-Ego, who also attended the meeting, emphasized the central bank’s role in safeguarding the integrity of the financing process.
“The success of the INVITE Trust has long-term implications for Uganda’s financial sector. The Bank of Uganda will continue playing its custodial role to ensure transparency and stability,” he noted.
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Out of the total Shs800 billion for the INVITE Project, Shs642 billion will be disbursed through the INVITE Trust under four financing windows: Working Capital, Receivables Financing (Invoice Purchasing), Credit Guarantees, and Patient Capital all in local currency.
An additional Shs158 billion, managed by the Private Sector Foundation Uganda (PSFU), will support business development services for enterprises involved in manufacturing and export value chains.
These grants are expected to strengthen private sector capacity, especially in areas such as product development, standards compliance, and market access.
The INVITE Project is supported by the World Bank and other development partners including the Netherlands, United Kingdom, and Sweden, under a Multi-Donor Trust Fund.
It is expected to create over 200,000 jobs, increase household incomes, and spur investment, including in refugee-hosting communities.
The initiative aligns with Uganda’s broader economic strategy to industrialize, grow exports, and build a resilient, inclusive economy.
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