The Bank of Uganda has signed a cooperation agreement with EIB Global, the European Investment Bank Group’s international development arm, to strengthen climate risk supervision, disclosure and reporting across Uganda’s financial sector. Technical assistance will support the central bank’s oversight and help financial institutions identify and manage climate risks, alongside efforts to expand financing for environmentally sustainable activities. The assistance will help the Bank of Uganda develop a roadmap for greening the financial sector, strengthen its climate risk disclosure framework and improve financial institutions’ reporting. It will also support practical implementation of Uganda’s National Green Taxonomy, launched in 2025 to define environmentally sustainable economic activities, and build supervisory capacity to help institutions comply with regulatory requirements. Selected commercial banks will receive assistance to improve climate risk management and disclosure and develop policies and processes to expand green lending. Housing Finance Bank is the first Ugandan commercial lender set to benefit. The support is provided through the Greening Financial Systems technical assistance programme, managed by EIB Advisory and financed by Germany and Luxembourg in coordination with the NDC Partnership. The agreement comes against an estimated USD 28.1 billion in Uganda’s climate action needs by 2030 and supports efforts to mobilise private and international finance.

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