COP31 will mark the fourth year in a row that UDB is participating in the annual UN Climate Conference (COP).
Kampala, Uganda | NEWS CORRESPONDENT | Uganda Development Bank Limited (UDB), the country’s national Development Finance Institution, has reaffirmed its commitment to advancing Uganda’s climate action and sustainable development agenda through strategic engagement at the Conference of the Parties (COP).
The announcement was made during the Pre-COP31 National Forum at Silver Spring Hotel in Kampala, which brought together government agencies, development partners, civil society and private sector players to reflect on Uganda’s climate ambitions ahead of COP31, to be held in Antalya, Türkiye, from November 9 to 20, 2026.
UDB is the lead sponsor of the Ugandan Pavilion for the second consecutive year, contributing UGX 200 million. COP31 will mark the fourth year in a row that the Bank has participated in the annual UN Climate Conference.
Speaking at the Forum, Minister of State for Environment Beatrice Anywar said the event was key to consolidating Uganda’s priorities in seven negotiation areas: adaptation (including loss and damage), mitigation, climate finance, technology, capacity building, gender and compliance.
“Our goal is to agree on a common position and approach that reflects the priorities and aspirations of our people as we respond to the existing threats of climate change. Uganda is an agricultural country and our farmers need reliable water sources in the face of perennial drought and predictable, reliable weather forecasts,” said Anywar said.
The Minister, who is leading Uganda’s delegation at COP31, said Uganda will continue to advocate for adequate, predictable and accessible finance, with emphasis on grant-based support for adaptation and the needs of least developed countries.
Dr. Francis Mwesigye, Director of Economic Research and Knowledge Management at UDB, who represented Managing Director Dr. Patricia Ojangole, said the sponsorship represents a strategic investment in elevating Uganda’s voice within the global climate discourse and showcasing the country’s climate investment potential.
“UDB has taken deliberate institutional steps to position climate finance as a central pillar of its development financing mandate. A key milestone has been the establishment of a dedicated Climate Finance Facility (CFF) and Climate Finance Unit,” Dr. Mwesigye said.
“Since we started attending COPs, the Bank has mobilized not less than USD 200 million to capitalize this Climate Finance Facility.”
Through the CFF, launched in 2023 with seed capital of UGX 50 billion, the Bank seeks to identify bankable climate investments, provide technical guidance on financing structures, assess climate-related risks and support projects contributing to emission reduction, climate adaptation and economic resilience.
At COP31, UDB will host three strategic side events: “From Climate Commitments to Financing Bankable Projects: Mobilizing Green Finance Using Market-Based Instruments”; “Financing Decarbonization of the Transport Sector: The Case of E-Buses, E-Bikes, and Charging Infrastructure”; and “Blended Finance for Climate Adaptation: From Large-Scale Irrigation Infrastructure to Last-Mile Connection.”
During the Forum, UDB also signed a Memorandum of Understanding to formalize partnerships promoting Uganda’s investment opportunities in renewable energy, climate-smart agriculture, sustainable infrastructure and green manufacturing.
The Bank noted that Uganda’s forest cover reduced from 24% in 1990 to 9% in 2015, despite a slight recovery to 12.4% currently, while wetland coverage stands at 8.9%, down from 13%—risks highlighted in the World Economic Forum Report (2020).
Uganda Development Bank Limited is the country’s national Development Finance Institution, mandated to accelerate socio-economic development through sustainable financial interventions, with about 80% of its portfolio in primary agriculture, agro-processing and manufacturing.
