UDB reinforces Uganda’s commitment to climate action

What the report says

Uganda Development Bank Limited (UDB) has reiterated its support for Uganda’s climate agenda ahead of COP31, the UN Climate Conference scheduled for November 9 to 20, 2026, in Antalya, Türkiye, according to The Independent Uganda. The message was delivered at a Pre-COP31 National Forum in Kampala, where government officials, development partners, civil society and private sector representatives discussed Uganda’s priorities before the global talks.

The bank said it will be the lead sponsor of the Ugandan Pavilion for a second straight year, contributing UGX 200 million. UDB also said COP31 will be its fourth consecutive year participating in the annual conference. At the forum, Minister of State for Environment Beatrice Anywar said Uganda wants a common national position across key negotiation areas, including adaptation, mitigation, climate finance, technology, capacity building, gender and compliance. She also emphasized the need for more predictable and accessible climate finance, especially grant-based support for adaptation.

UDB’s Director of Economic Research and Knowledge Management, Dr. Francis Mwesigye, said the sponsorship is intended to strengthen Uganda’s voice in global climate discussions and highlight investment opportunities. He said the bank has created a Climate Finance Facility and a Climate Finance Unit, and has mobilized more than USD 200 million to support the facility since it began attending COP meetings. The bank said the facility, launched in 2023, is meant to help structure bankable climate projects, manage risks and support emissions reduction and resilience efforts.

During the forum, UDB also signed a memorandum of understanding to support partnerships in renewable energy, climate-smart agriculture, sustainable infrastructure and green manufacturing. The report adds background on Uganda’s environmental pressures, including declining forest cover and wetland loss, underscoring why climate adaptation remains a national concern.