Project

Project Reference Profiles – Uganda(UG16) Uganda Green Investment Facility

At a Glance

Strategic Outcomes SO1 Reduced GHG emission, SO2 Creation of green jobs, SO3 Increased access to sustainable services, SO6 Enhanced adaptation to climate change
Start Date Q1  May 23 2019
End Date q1 Dec 31 2019
Funding Source Core
Actual Budget (USD) 13,098
Budget Percentage 94%
Actual Expenditure (USD) 12,355.64
Status Complete
GGGI Share (USD) 13,098.24
Poverty and Gender Policy Markers poverty
Name of Client (Lead/Prime implementer if GGGI is part of a consortium) Ministry of Finance Planning and Economic Development
Participating Organization (Funding/donor)
Name of consortium members, if any United Nations Development Program
Thematic Area
  • Cross Cutting
GGGI Project Code :
Project Manager and Staff +

Project context, objectives and description

The government of Uganda is seeking to raise USD 11 billion to finance the Uganda Green Growth Development Strategy (UGGDS) while the estimated cost of Uganda’s NDC is USD 5.5 billion exclusive of conditional commitment. This requires a coordinated approach to resource mobilization and project financing, one path being through a green investment fund. This will ensure efficiency of the project funding mechanism, prioritization of projects to be financed and effective monitoring and reporting. As such, this project aims at creating a Uganda Green Investment Facility (UGIF) by using the policies and strategies already in place for guidance on structure. The fund will help source and channel finance for the implementation of projects that will be formed from the programs and ideas detailed in the Uganda Green Growth Development Strategy (UGGS) and related implementation roadmap. Further, depending on the model selected, the fund could develop and implement a roadmap for direct access to climate finance through, for example, the Green Climate Fund (GCF).  The fund shall aim to build institutional capacity to further the national ownership of climate action funding. 

In collaboration with United Nations Development Program, the fund will then assess the market to identify streams of projects that require financial support and will also share fund structure options to address the financial needs identified. 

The objectives of the project are i.) A market assessment to identify the types and pipelines of projects that require support and an understanding of the financial barriers they are facing  ii.) An analysis of the different types of national financing vehicles operational around the world and mapping of how the different designs may target the project pipelines; and an understanding of which mechanisms may also be appropriate for the Ugandan context will also be needed iii.) A stakeholder consultation. 

The project is aligned with IO2. Increased green growth investment flows which enable partner governments to implement green growth policies

Type of services provided, and results achieved

Impact: Poverty is reduced and GDP per capita is accelerated in Uganda helping to move the country to middle income status in line with Vision 2040 

Outcome: N/A 

Project Outputs completed in 2019:  

i. Green Growth Policies:N/A

ii. Green Investments:N/A

iii. Capacity Building and Knowledge Products: N/A 

 

Number of staff provided

Project Manager: Sengozi David Kyeyune 

Number of staff provided: Fenella Aouane, Mariah Kizza