Climate financing in Uganda is currently estimated at USD 942 million distributed in implementation of 38 Adaptation and Mitigation projects.
Under the 2015 Paris Agreement to which Uganda is a party, countries are obliged to develop and implement ambitious climate change actions so as to meet targets articulated in their NDCs. However, for any developing country to meet such a commitment, it will require necessary means of implementation.
Article 4.3 of the United Nations Framework Convention on Climate Change (UNFCCC) stipulates that the developed country Parties, including developed country parties included in Annex II shall also provide such financial resources including the transfer of technology needed by the developing countries to meet the agreed full incremental costs of implementing such commitments.
In this regard, in implementing the Nationally Determined Contributions (NDCs), Uganda Government planned to provide 30 per cent of the required funds, while 70 per cent was to be accessed from international sources (MWE, 2015). MWE also estimated that Uganda requires US$ 2.5 billion annually for 15 years from 2015 to address the impacts of climate change which continue to have negative effects on development efforts. The funding is also expected to help Uganda to overcome impacts of climate change challenges, which are likely to hamper its contribution to the achievement of Sustainable Development Goals (SDGs).