Minister of State for Finance, Planning and Economic Development (Planning), Amos Lugoloobi, stressed the urgency for local governments to explore alternate funding avenues to propel socio-economic development.
The minister made these remarks during the launch of the Local Government Public Private Partnerships (PPP)/Pooled Finance Guidelines at Sheraton Hotel, Kampala on December 13, 2023.
Lugoloobi emphasized that waiting for resources from the central government is no longer viable due to diminishing discretionary funds. He referenced projects such as the Nansana Transport Transit Station and the Madi Okollo Hydro Power Project, citing them as prime examples of initiatives suitable for investment under Public-Private Partnership (PPP) arrangements.
“The tendency of Local Governments waiting for resources from the center is no longer feasible because of dwindling discretionary resources,” he added.
During the launch of the Local Government Public Private Partnerships (PPP)/Pooled Finance Guidelines, Lugoloobi called for simplification of the guidelines by the PPP Unit, led by Jim Mugunga, to ensure that potential investors are not deterred due to procedural confusion.
The minister urged local governments to harness imagination and creativity, forging collaborations with the private sector to provide public goods. Lugoloobi also called on leaders in the public and private sectors to leverage collective resources, skills, and expertise to bolster economic growth.
This push for alternate funding sources highlights a shift in approach, aiming to empower local governments to seek innovative ways to fuel socio-economic progress and reduce reliance on centralized resources.