Uganda targets inaugural sovereign green bond of up to $500m, framework near completion
On 26 August 2026 Uganda announced it is preparing to issue its first sovereign green bond “early next year”, targeting up to US$500 million and planning both shilling and dollar tranches, with a Green Bond Framework expected to be finalised imminently to enable investor roadshows.
The desk brief
On 26 August 2026 Uganda announced it is preparing to issue its first sovereign green bond “early next year”, targeting up to US$500 million and planning both shilling and dollar tranches, with a Green Bond Framework expected to be finalised imminently to enable investor roadshows.
If issued, a sovereign green bond could broaden Uganda’s investor base by attracting climate-focused international and domestic investors, but any impact on the sovereign curve will depend on final tenor, coupon, tranche sizing, investor demand and whether a greenium or EU subsidy materially lowers the coupon. Execution risks include framework approval, project pipeline readiness and market conditions at issuance.
Publication and formal adoption of Uganda's Green Bond Framework and announced issuance timetable (date of roadshows/launch).
Sources & verification
Developing storyFurther independent confirmation is required.
- Gov’t targets Shs1.86 trillion in inaugural sovereign green bond next yearindependent.co.ugSource published (opens in a new tab)
- Public Sector Stakeholder Engagement and Technical Capacity Building Workshop to Support the Development of Uganda’s Sovereign Green Bond Frameworkgggi.org (opens in a new tab)
Public references supporting this brief.