By KT Reporter
Uganda and the Netherlands have been elected co-chairs of the Coalition of Finance Ministers for Climate Action, a group of 98 member countries.
This came at the ongoing 2025 Spring meetings of the World Bank Group and International Monetary Fund (IMF) in Washington, D.C., USA.
The World Bank and the IMF host the secretariat of the coalition, a grouping of Finance Ministers committed to taking collective and domestic action on climate change and achieving the objectives of the Paris Agreement.
The Paris Agreement is an international treaty on climate change adopted in 2015, with the main goal of keeping global temperature increase well below 2 degrees Celsius above pre-industrial levels. The stronger goal is to limit the increase to 1.5 degrees Celsius.
The Minister of State for General Duties, Henry Musasizi on behalf of the Government of Uganda, received the co-chairmanship role from the outgoing co-chair, H.E. Sri Mulyani Indrawati, the Finance Minister of Indonesia.
“We deeply appreciate the trust placed in us and we are committed to advancing our shared climate and economic goals,” said Minister Musasizi
He said Uganda’s central focus during its co-chairmanship will be adaptation.
“We believe adaptation efforts are not just necessary for resilience but are also key to unlocking economic opportunities,” said the Minister.
Musasizi, who was accompanied by PSST Ramathan Ggoobi and other technical staff, said Finance Ministers must integrate climate goals into fiscal policy, budgeting, planning and debt management, in addition to mobilising both public and private resources.
He said Uganda will work in close partnership with all 98 member countries and Institutional partners, including the World Bank and the IMF.
The Principles are aspirational and serve to give a common purpose to countries. The specific responsibilities of Finance Ministers may differ from one country to another, and it is acknowledged that Coalition Members work within their respective mandates to implement the Principles,” says the note from the World Bank.
The Principles mention the support of technical assistance from development partners.
The World Bank has relevant programs such as the Carbon Accelerator Programme for the Environment (CAPE) and the Nationally Determined Contributions (NDC) Support Facility.
Other institutions like the IMF, the Organisation for Economic Cooperation and Development (OECD), UN Development Programme (UNDP) and other UN agencies, also provide technical assistance and analytical support to countries-URN. Give us feedback on this story through our email: kamwokyatimes@gmail.com
