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Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank Limited (UDB) has announced its role as the lead sponsor of the Ugandan Pavilion at the upcoming United Nations Climate Change Conference (COP30), set to take place from November 10 to 21 in Belém, Brazil. The pavilion will serve as the central hub for all of Uganda’s engagements during the global climate summit.
The announcement was made during the pre-COP30 National Forum held at Silver Springs Hotel in Bugolobi, jointly organized by UDB and the Ministry of Water and Environment in collaboration with several partners on Nov.5.
At the event, UDB signed a Memorandum of Understanding to formalize its partnership in promoting Uganda’s climate-aligned investment opportunities, focusing on renewable energy, climate-smart agriculture, sustainable infrastructure, and green manufacturing.
This marks the third consecutive year UDB is participating in the UN Climate Conference as part of its commitment to mobilize funding and forge partnerships that advance Uganda’s green growth agenda. During COP30, the Bank will showcase flagship projects and host side events and panel discussions on topics such as energy efficiency in manufacturing and tourism, sustainable waste management, and climate-resilient agriculture. These discussions aim to inspire practical collaborations among stakeholders in technology, waste management, and smart agriculture.
“UDB’s mandate is to accelerate sustainable socio-economic development through finance and to catalyze the private sector. COP30 presents a unique opportunity for UDB to amplify this mandate on a global stage,” said Patricia Ojangole, Managing Director of UDB.
She emphasized that the Bank, with support from the government, is positioning itself to close Uganda’s green financing gap by mobilizing funds, managing risks, and providing affordable green financial products.
USD 194.5 million annually
According to Uganda’s Climate Change Policy, the country requires about USD 194.5 million annually over the next 15 years to effectively address climate challenges. To help meet this need, UDB is spearheading the Climate Finance Facility (CFF), designed to scale up interventions in green sectors and promote sustainable impact.
Ojangole noted that by showcasing bankable projects and engaging with multilateral partners at COP30, UDB expects to attract critical funding for project implementation. One of the key side events, themed “Financing Energy Efficiency and Electric Mobility to Foster Sustainability,” will encourage partnerships aimed at advancing clean energy and e-mobility solutions.
Uganda’s participation at previous climate conferences has yielded tangible progress. Following COP29 in Baku, Azerbaijan, UDB structured potential projects in energy efficiency, renewable power, mass e-transport, and agricultural resilience. The Bank has also developed a green funding pipeline exceeding USD 100 million and continues to strengthen relationships with global climate funds, including the Green Climate Fund and the Adaptation Fund.
