Kampala, Uganda, 13 – 14 May 2026. The Ministry of Finance, Planning and Economic Development (MoFPED), in partnership with the Global Green Growth Institute (GGGI), convened a two-day residential workshop to strengthen public sector capacity on sovereign green bonds under the European Union-funded Support Programme to Enhance Access and Retention of Climate Finance in Uganda (SPEAR-CF). 

The workshop brought together representatives from government institutions, financial sector regulators, financial institutions, market participants, and development partners to strengthen Uganda’s readiness to design, issue, and manage sovereign green bonds as part of the country’s broader climate finance agenda. The engagement aimed to build a shared understanding of green bond frameworks while strengthening the technical capacity required to operationalize Uganda’s emerging green finance ecosystem. 

Throughout the workshop, participants engaged in technical and interactive discussions and knowledge-sharing sessions focused on the fundamentals of green bonds, global market trends, bond issuance processes, and governance frameworks. The sessions also provided a platform for stakeholders to exchange perspectives on opportunities and institutional requirements for developing Uganda’s sovereign green bond. 

The workshop forms part of Uganda’s broader efforts to strengthen climate finance systems and mobilize sustainable investment to support green growth and climate resilience priorities.  

“The development of Uganda’s Sovereign Green Bond Framework is highly strategic, positioning the country to unlock sustainable finance and channel investments into transformative green projects that support the country’s climate resilience and economic growth,” Mr. Denis Mugagga, Head of the Climate Finance Unit, MoFPED, said while delivering his opening remarks. 

The engagement builds on GGGI’s ongoing support to Uganda’s climate finance ecosystem, including the establishment and operationalization of the Climate Finance Unit at MoFPED through funding from the UK Foreign, Commonwealth and Development Office (FCDO) and the European Union. As Uganda advances its Green Bond Framework, this collaboration is supporting to strengthen institutional capacity, improving cross-sector coordination, and positioning the country to attract more climate-aligned investment. 

“A sovereign green bond is not only a financing instrument, but also a strong market signal demonstrating commitment to transparency, sustainability, and long-term investment planning,” Ms.  Cristina Banuta, the Programme Manager Access to Finance, Climate Finance, Agribusiness and Land at the European Union Delegation to Uganda said. 

The workshop reflected a strong multi-stakeholder approach, with more than 30 representatives from ministries, departments, and agencies; financial regulators, financial institutions; and institutional investors and development partners. Their participation underscored the importance of coordinated action across policy, regulation, investment, and implementation to support the development of Uganda’s green bond market. 

Globally, green bonds have become an important tool for financing environmentally sustainable projects. Since the World Bank issued the first green bond in 2008, the market has expanded significantly, with annual issuance now reaching hundreds of billions of dollars. The Climate Bonds Initiative also highlights green bonds as a key instrument for mobilizing private capital in support of climate goals under the Paris Agreement. 

For Uganda, green bonds are gaining momentum as a practical instrument to support narrowing the climate finance gap. Therefore, the government is developing a Green Bond Framework to guide future issuance, strengthen transparency, and attract both domestic and international investors. 

“This meeting marks an important milestone in developing financing instruments that signal Uganda’s commitment to aligning public investment with sustainable development priorities, climate resilience, and long-term economic transformation,” said Mr. Arthur Ssebbugga-Kimeze, Project Manager, GGGI, who delivered opening remarks on behalf of the Country Representative for GGGI Uganda, Angola, and Zambia. 

Looking ahead, insights from the workshop are expected to inform the operationalization of Uganda’s Green Bond Framework through continued technical assistance and stakeholder engagement. With sustained collaboration across the public and private sectors, Uganda is steadily positioning green bonds as a credible instrument for climate finance for a sustainable and resilient economy.