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USD 11 Billion Needed For Uganda's Green Growth Agenda :: Uganda Radionetwork
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USD 11 Billion Needed For Uganda's Green Growth Agenda

The transition to green growth according to the National Planning Authority entails a number of trade-offs for some investments which calls for a clear understanding of where to devote policy effort and priority areas like enhancing Ugandas economic growth while creating new opportunities for decent employment.
09 Feb 2018 16:38
Global Green Growth Director of Africa and Middle East, Dexippos Agourides exchnaging signed copies of Uganda's CPF Deputy Secretary to the Treasury, Patrick Ocailap in Kampala on Friday
Uganda needs over USD 11 billion to achieve its green growth agenda in the next 15 years according to estimates by the Global Green Growth Institute.

In Uganda's context, green growth is defined as a system or development paradigm that aims at catalyzing economic growth through the efficient use of the country's natural, human, and physical capital resources in an inclusive manner along a low carbon emission, climate resilient development pathway.

The transition to green growth according to the National Planning Authority entails a number of trade-offs for some investments which calls for a clear understanding of where to devote policy effort and priority areas like enhancing Uganda's economic growth while creating new opportunities for decent employment.

Officials from the Seoul-based Global Green Growth Institute were in Uganda early this month to launch Uganda's country Planning Framework (CPF)  developed by National Planning Authority. The country Planning Framework (CPF) developed with experts from Global Green Growth Institute is to be implemented over a five-year period deemed to have begun from the 2017/2018 financial year to 2021/22.

Among the targets is the mobilization of finances for the implementation of the Green Growth Strategy to a tune of USD 11 billion over a 15-year period.

It is also exploring means of supporting the Government of Uganda in its efforts to expand electricity access by directing investments into "affordable and sustainable" off-grid renewable energy and enhancing energy efficiency for production.

Deputy Secretary to the Treasury Patrick Ocailap said that the country planning framework is an opportunity that will translate into funding for Uganda's agreed Green approach to development.

He challenged government ministries and departments to find suitable sources of finance to develop projects that are bankable based on Uganda's Nationally Determined Contributions (NDCs) assessments.

Uganda, through its Nationally Determined Contributions (NDCs), committed to reducing Greenhouse gas emissions as part of the Paris Agreement on Climate Change.

Uganda joins countries like Ethiopia and Rwanda already benefiting from the Global Green Growth Institute in planning their cities and other developments while at the same time ensuring that environment is not affected.

Implementation of interventions from the CPF are anticipated to boost the country's GDP growth; private sector growth, creating green jobs; reducing greenhouse gas emissions as well as promoting inclusive growth as outlined in Uganda's Vision 2040; second the National Development plan (NDPII); and global commitments such as NDCs and the SDGs.

 

Uganda was among the first countries to mainstream SDGs into its development plan, although a strategy that unpacks green growth into sectoral interventions that can be implemented has yet to be devised.

In response, the Government developed the Uganda Green Growth Development Strategy (UGGDS) to operationalize green growth principles and accelerate the implementation of global development goals, Uganda Vision 2040 and the second National Development Plan (NDP II).

 Priorities for Investment in the Uganda Green Growth Development Strategy according to the National Planning Authority (NPA) include green planned cities development, agriculture with a focus on solar powered irrigation and upgrading the agricultural value chain, sustainable energy and natural capital management.

 It is anticipated that the green growth path will positively impact Uganda's economy by attaining a 10 percent of GDP by 2040 compared to business as usual, deliver employment up to 4 million jobs and reduce future greenhouse gas (GHG) emissions by 28 percent relative to a conventional growth pathway.

 Global Green Growth Institute (GGGI's) is based in Seoul Korea. It is an intergovernmental organization that supports developing country government's transition to a model of economic growth that is environmentally sustainable and socially inclusive.

 GGGI delivers programs in 25 partner countries with technical support, capacity building, policy planning & implementation, and by helping to build a pipeline of bankable green investment projects.