UDB Mobilises USD200m for Climate Finance Ahead of COP31

November 5, 2026 in Land & Agriculture by Editor

UDB says it has mobilised at least USD200 million for climate financing since joining the annual UN climate conferences, as it prepares to showcase Uganda’s green investment opportunities at COP31.

 

As it prepares to showcase investment opportunities at COP31 in Türkiye, Uganda Development Bank (UDB) says it has cumulatively mobilised at least USD200 million to support its climate finance programme since it began participating in the annual United Nations climate conferences.

The development finance institution has also committed UGX200 million as lead sponsor of the Ugandan Pavilion at this year’s conference, extending a partnership that started last year.

Speaking at the Pre-COP31 National Forum in Kampala on November 3, UDB Director of Economic Research and Knowledge Management Francis Mwesigye, said the bank had established a dedicated Climate Finance Facility and Climate Finance Unit to coordinate and scale up financing for green investments. The USD200 million facility is intended to support commercially viable projects in areas including renewable energy, climate-smart agriculture, sustainable infrastructure and green manufacturing.

“UDB has taken deliberate institutional steps to position climate finance as a central pillar of its development financing mandate. A key milestone in this journey has been the establishment of a dedicated Climate Finance Facility (CFF) and Climate Finance Unit, providing the institutional architecture necessary to coordinate, structure and scale the Bank’s green financing interventions,” Dr. Mwesigye said.

“I’m happy to note that COP has been one of the key platforms that the Bank has used to mobilize this money. And since we started attending COPs, the Bank has mobilized not less than USD 200 million to capitalize this Climate Finance Facility.”

Through the CFF, the Bank seeks to strengthen its capacity to identify and vote bankable climate investments, provide technical guidance on appropriate financing structures, assess climate-related risks and opportunities, and support the implementation of investment that contributes to emission reduction, climate adaptation, and economic resilience.

At COP31, UDB will also three side events, focusing on market-based instruments for financing bankable climate projects, decarbonisation of transport through electric mobility, and blended finance for agricultural adaptation and irrigation infrastructure.

The bank’s participation comes as Uganda seeks greater access to predictable international climate finance, particularly grant-based funding for adaptation.

Speaking at the forum, the Minister of State for Environment, Hon. Beatrice Anywar said it was an opportunity for consolidating Uganda’s priorities in the seven key negotiation areas of 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 aspiration 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 they also need a predictable, reliable weather forecast,” Ms Anywar said.

The Minister who is leading the Ugandan delegation to the November 9-20 conference, added that Uganda would continue to “advocate for adequate, predictable, and accessible finance with particular emphasis on grant-based support for adaptation and the needs of the least developed countries Our ministries, agencies, local governments, and partners must work together to prepare a credible proposal, identify financing opportunities, and account for the results.”

The Minister also announced that Uganda’s deliberations and engagements at COP31 will be coordinated under the Uganda Pavillion which she said will provide a platform to build mutually beneficial partnerships and network for climate action. State Minister for Environment Beatrice Anywar said Uganda’s priorities

At the national forum, UDB also signed a memorandum of understanding aimed at promoting investment opportunities through a pipeline of bankable, climate-aligned projects. COP31 will be the fourth consecutive UN climate conference attended by UDB and the second at which it has sponsored the Ugandan Pavilion as lead partner.