Uganda has held talks with the Trade and Development Bank (TDB) and American financial services giant JPMorgan Chase on potential financing partnerships to support the country’s economic transformation agenda, particularly in energy and other strategic sectors.
Finance, Planning and Economic Development Minister Henry Musasizi said the discussions took place on the sidelines of the 2026 annual meetings of the World Bank and International Monetary Fund (IMF) in Bangkok, Thailand.
Musasizi, accompanied by Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi, met TDB President Admassu Tadesse to explore how the regional development finance institution could provide affordable funding for Uganda’s development priorities.
The minister said the discussions focused on structuring financing arrangements aligned with Uganda’s Tenfold Growth Strategy, which seeks to accelerate economic expansion and transform the country’s economy.
TDB is an African regional development finance group with an asset base of $10 billion. Its mandate includes financing trade, promoting regional economic integration and supporting sustainable development across its markets.
The bank provides short- and long-term financing through bilateral and syndicated arrangements to governments, financial institutions, corporations and small and medium-sized enterprises.
Musasizi said Uganda was interested in working with the institution to secure financing that could support its broader economic transformation plans.
In a separate engagement, the minister met senior JPMorgan officials to discuss Uganda’s economic priorities and opportunities for strengthening cooperation with the global financial services firm.
The delegation included Puja Turner, Managing Director and Head of Central and Eastern Europe, Middle East and Africa (CEEMEA) Loans and Structured Credit, and Olivier Eweck, Managing Director for Global Public Sector in Sub-Saharan Africa.
According to Musasizi, JPMorgan’s representatives expressed interest in supporting Uganda’s energy sector, signalling potential opportunities for investment and financing in the industry.
The energy sector remains important to Uganda’s economic development ambitions, with financing needed to support infrastructure expansion, industrial growth and improved access to reliable power.
The engagements form part of Uganda’s efforts to attract development financing and strengthen partnerships with international financial institutions as it pursues its long-term growth targets.
However, Musasizi did not disclose the value of financing under discussion or indicate whether formal agreements had been reached with either institution.