Download logoFinance Minister Hon. Henry Musasizi has reaffirmed Government’s commitment to strengthening Uganda’s partnership with the European Union to mobilise investment, expand trade, support private-sector growth and accelerate economic transformation.
Musasizi made the remarks while receiving a delegation from the European Union led by the EU Ambassador to Uganda, H.E. Jan Sadek.
“We value the European Union’s longstanding partnership with Uganda and look forward to strengthening cooperation that translates into investment, jobs, exports and sustainable economic growth,” said the Minister.
The engagement comes as Uganda and the EU mark 50 years of partnership, with cooperation increasingly moving beyond traditional development assistance towards investment, infrastructure, trade, energy, climate finance and private-sector development.
Ambassador Sadek reaffirmed the EU’s commitment to working closely with the Ministry of Finance, which he described as the EU’s primary counterpart for development cooperation.
He said the EU–Uganda bilateral development cooperation envelope for 2021–2027 stands at €539 million, while Team Europe delivers more than €750 million annually in development assistance to Uganda.
According to Sadek, EU–Uganda cooperation is centred on sustainable and inclusive growth and jobs, governance and social inclusion, and connectivity, in line with the EU’s Global Gateway Strategy.
He said the partnership is also evolving towards a broader financing relationship involving grants, lending, guarantees and blended finance to mobilise private investment.
The Ambassador said the EU’s portfolio is also supporting productive sectors and value chains with potential to drive Uganda’s long-term growth, including coffee, forestry, tourism and critical raw materials, alongside investments in energy, transport and digital connectivity.
“Our portfolio is broad and designed to deliver practical results while supporting Uganda’s own priorities,” Sadek said.
Energy was another key area of discussion, with the rehabilitation of the Nalubaale and Kiira hydropower plants highlighted as a flagship Team Europe initiative.
The project has a €170 million financing package, comprising €30 million in EU grant funding and concessional loans from the European Investment Bank and the French Development Agency. It is intended to extend the life of the strategic renewable energy assets for at least another 30 years.
“The rehabilitation of the Nalubaale and Kiira hydropower plants is one of our flagship Team Europe initiatives in Uganda,” Sadek said.
The meeting also focused on climate finance, including Uganda’s preparations to issue its first sovereign green bond. The EU expressed interest in supporting Uganda’s readiness and exploring how the planned issuance could mobilise international private capital for sustainable investments.
On trade, Sadek noted that Uganda’s exports to the EU grew from €377 million in 2015 to €1.8 billion in 2025, while Uganda recorded a trade surplus of about €950 million with the EU in 2025.
Distributed by APO Group on behalf of Ministry of Finance, Planning and Economic Development, Republic of Uganda.
