Uganda Development Bank (UDB) has committed Shs200 million to support Uganda’s participation in the 31st United Nations Climate Change Conference (COP31), as the country steps up efforts to attract investment into climate-friendly projects.
The national development finance institution says it will use the global climate summit to strengthen partnerships, mobilise funding and promote investment in commercially viable projects that can help Uganda respond to climate change.
The bank’s commitment was announced during the Pre-COP31 National Forum held at Silver Springs Hotel in Kampala, where government officials, development partners, civil society organisations and private sector representatives discussed Uganda’s priorities ahead of the international conference.
COP31 is scheduled to take place in Antalya, Türkiye, from November 9 to 20, 2026. The conference will bring together governments, climate experts, businesses and civil society organisations to discuss measures to address climate change and support sustainable development.
Speaking at the forum, State Minister for Environment Beatrice Anywar said the meeting was important in helping Uganda develop a common position on the issues it intends to raise during the negotiations.
She identified seven key areas of focus: climate change adaptation, including loss and damage; mitigation; climate finance; technology transfer; 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. They also need predictable and reliable weather forecasts,” Anywar said.
The minister, who is leading Uganda’s delegation to COP31, said the country would push for adequate, predictable and accessible climate financing, particularly grants to support adaptation programmes and the needs of least developed countries.
She called on government ministries, agencies, local governments and development partners to work together to prepare credible project proposals, identify funding opportunities and ensure accountability for the resources received.
Anywar also announced that Uganda would coordinate its engagements at the summit through the Uganda Pavilion, which will provide a platform for promoting investment opportunities, building partnerships and networking with international climate stakeholders.
UDB is supporting the pavilion as its lead sponsor, contributing Shs200 million towards Uganda’s participation.
Dr Francis Mwesigye, UDB’s Director of Economic Research and Knowledge Management, who represented the bank’s Managing Director, Dr Patricia Ojangole, said the sponsorship was a strategic investment in promoting Uganda’s climate priorities and attracting financing for sustainable development.
He said the bank wanted to use the international platform to showcase investment opportunities in Uganda and connect local projects with development partners and investors.
“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,” Mwesigye said.
He added that the bank had mobilised at least $200 million through its participation in previous COP conferences to capitalise its Climate Finance Facility.
“COP has been one of the key platforms that the bank has used to mobilise this money. Since we started attending COPs, the bank has mobilised not less than $200 million to capitalise this Climate Finance Facility,” he said.
Through the facility, UDB intends to support the identification and development of bankable climate-related investments, provide technical guidance on financing arrangements and help businesses assess climate risks and opportunities.
At COP31, UDB plans to host three side events focusing on financing climate-friendly investments in Uganda.
The first will examine how development finance institutions can use market-based financial instruments to turn climate commitments into bankable projects capable of attracting private investment.
The second will focus on financing the decarbonisation of the transport sector, particularly electric buses, electric motorcycles and charging infrastructure.
The bank hopes to demonstrate how investment in cleaner transport can reduce emissions while creating opportunities for local industries, businesses and employment.
The third discussion will focus on blended financing for climate adaptation, with particular attention to large-scale irrigation infrastructure and connections to individual farmers.
COP31 will be the fourth consecutive year that UDB has participated in the annual United Nations climate conference. It will also be the second year the bank has served as lead sponsor of the Uganda Pavilion.
UDB says expanding access to climate finance and directing investment towards sustainable projects will be critical in helping Uganda address these challenges while supporting economic growth.
