The Government of Uganda has received UGX 170 billion from the World Bank as the first disbursement under the Investment for Industrial Transformation and Employment (INVITE) Project.
This marks a significant step in the implementation of the UGX 800 billion initiative aimed at strengthening Uganda’s manufacturing and export value chains.
The funding comes after Uganda met the conditions required for disbursement, leading to the World Bank lifting its moratorium.
Spearheaded by the Government and supported by a Multi-Donor Trust Fund Grant, the INVITE Project is being implemented through the INVITE Trust and the Private Sector Foundation Uganda (PSFU).
The newly received funds will be used to operationalize a Working Capital facility through eligible financial institutions, according to the Ministry of Finance, Planning and Economic Development.
Of the total project financing, UGX 642 billion will be managed by the INVITE Trust to provide four types of financing to private sector enterprises: Working Capital, Receivables Financing (Invoice Purchasing), Credit Guarantees, and Patient Capital in local currency.
The remaining UGX 158 billion will be administered by PSFU to offer grants for business development services supporting enterprises in the manufacturing and export sectors.
Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, noted that the project is designed to create 200,000 jobs, raise incomes, and expand economic opportunities and investment, including in communities hosting refugees.
By Charles Katabalwa
16th July 2025
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