Uganda needs Shs118 trillion for climate action
Bank of Uganda partners with European Investment Bank to manage climate risks and attract investment.
Uganda requires approximately Shs118.22 trillion for climate action by 2030, according to figures released on Wednesday. The Bank of Uganda (BoU) and the European Investment Bank (EIB) signed a cooperation agreement in Kampala to strengthen the financial sector's capacity to handle climate-related risks and draw in investment.
The deal will provide technical assistance to the central bank to create a roadmap for greening the financial sector, improve climate-risk disclosure, and enhance reporting by financial institutions. BoU Deputy Governor Prof. Augustus Nuwagaba stated the country must build resilience to climate risks without limiting access to finance.
The partnership will also support the practical use of Uganda’s National Green Taxonomy, launched in September 2025, which defines sustainable economic activities. EIB Vice-President Marko Primorac said the agreement aims to turn climate ambitions into practical tools and boost market confidence.
Why it mattersUganda needs Shs118.22 trillion by 2030 for climate action, and the Bank of Uganda is partnering with the European Investment Bank to attract necessary investment.