Finance Minister Henry Musasizi (Left) meeting with the EU delegation led by Ambassador to Uganda, Jan Sadek.Finance Minister Henry Musasizi has reaffirmed Uganda’s commitment to strengthening its partnership with the European Union to attract investment, expand trade, support private sector growth and accelerate economic transformation.Musasizi made the remarks while meeting the EU delegation led by Ambassador to Uganda, Jan Sadek.“We value the European Union’s longstanding partnership with Uganda and look forward to strengthening cooperation that translates into investment, jobs, exports and sustainable economic growth,” Musasizi said.The engagement comes as Uganda and the EU mark 50 years of partnership, with cooperation increasingly shifting beyond traditional development assistance towards investment, infrastructure, trade, energy, climate finance and private sector development.Sadek reiterated the EU’s commitment to working closely with the Ministry of Finance, which he described as the EU’s primary counterpart for development cooperation.He said the EU-Uganda bilateral development cooperation envelope for 2021-2027 stands at €539m, while Team Europe delivers more than €750m annually in development assistance to Uganda.According to Sadek, cooperation is centred on sustainable and inclusive growth and jobs, governance and social inclusion, and connectivity, in line with the EU’s Global Gateway strategy.Ministry of Finance and the EU delegation in a meetingHe said the partnership is evolving towards a broader financing relationship involving grants, lending, guarantees and blended finance to mobilise private investment.Under Global Gateway, Team Europe is investing about €1.4bn in Uganda’s private sector development with approximately €300m in grant funding targeting access to finance, skills development, business environment and productive infrastructure.The Ambassador said the EU’s portfolio is also supporting productive sectors and value chains with potential to drive Uganda’s long-term growth, including coffee, forestry, tourism and critical raw materials, alongside investments in energy, transport and digital connectivity.“Our portfolio is broad and designed to deliver practical results while supporting Uganda’s own priorities,” Sadek said.Energy was another key area of discussion, with rehabilitation of the Nalubaale and Kiira hydropower plants highlighted as a flagship Team Europe initiative.The project has a €170m financing package, comprising €30m in EU grant funding and concessional loans from the European Investment Bank and the French Development Agency. It is intended to extend the life of the strategic renewable energy assets for at least another 30 years.“The rehabilitation of the Nalubaale and Kiira hydropower plants is one of our flagship Team Europe initiatives in Uganda,” Sadek said.The meeting also focused on climate finance, including Uganda’s preparedness to issue its first sovereign green bond. The EU expressed interest in supporting Uganda’s readiness and exploring how the planned issuance could mobilise international private capital for sustainable investments.On trade, Sadek noted that Uganda’s exports to the EU grew from €377m in 2015 to €1.8bn (Shs8.1 trillion) in 2025, while Uganda recorded a trade surplus of about €950m with the EU in 2025.The post Uganda, EU Eye Deeper Trade Ties as Exports Hit Shs8.1 Trillion appeared first on Business Focus.