The Economic Policy Research Centre in partnership with aBi Finance, on August 24, launched the 12th edition of the Agricultural Finance Yearbook 2022. The latest edition focuses on climate smart finance for the agricultural sector.
Ministry of Finance Permanent Secretary and Secretary to the Treasury Mr. Ramathan Ggoobi officially launched the book, noting that amidst declining international financing with non-concessional sources getting more expensive, the remaining finance available is directed towards financing climate smart investments – an area that the government must tap into.
Already, he said, Uganda has passed the National Climate Change Act 2021 to manage the consequences of climate variability. The enactment of the National Climate Change Act 2021 has also led to forming a National Climate Change task force to handle policy and regulatory considerations.
Bank of Uganda Deputy Governor Dr. Michael Atingi-Ego, while giving keynote remarks, said there was renewed optimism in the economy following the resilience of the economy in 2022/23. The macroeconomic stability, he said, was important to address climate change issues.
Dr. Atingi-Ego said the optimism can be observed even when the country is confronted with the emergence of the Russian-Ukraine War, which led to increasing commodity prices and global supply chain disruptions. The country also faced severe weather such as extreme drought, which affected domestic commodity prices, especially food crops.
The latest edition of the book was themed, Towards climate responsive agricultural finance in Uganda. It addresses topics such as the green financing, financing agricultural value chains, innovations and regulated financial institutions operations, and managing agricultural risks among other issues.
EPRC Executive Director Dr. Sarah Ssewanyana appreciated support from partners, including aBi Finance and Government of Uganda, that supported the production and dissemination of the book. She conveyed the Centre’s commitment to continue producing knowledge that shape the country’s policy processes.