Uganda and the Netherlands have been chosen as co-chairs of the Coalition of Finance Ministers for Climate Action, which is made up of 98 member nations.
This announcement was made during the ongoing 2025 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) in Washington, D.C., USA.
The World Bank and the IMF serve as the secretariat for the coalition, which unites Finance Ministers dedicated to collective and domestic actions to combat climate change and fulfill the goals of the Paris Agreement.
The Paris Agreement, established in 2015, is an international treaty aimed at keeping global temperature increases well below 2 degrees Celsius compared to pre-industrial levels, with an ambitious target of limiting the rise to 1.5 degrees Celsius.
Henry Musasizi, Uganda’s Minister of State for General Duties, received the co-chairmanship on behalf of Uganda from the outgoing co-chair, H.E. Sri Mulyani Indrawati, Indonesia’s Finance Minister.
“We are truly honored by this trust and remain committed to advancing our shared goals on climate and economic fronts,” said Minister Musasizi.
He emphasized Uganda's priority on adaptation during its term as co-chair. “Adaptation measures are vital not only for building resilience but also for opening up economic opportunities,” he noted.
Accompanied by PSST Ramathan Ggoobi and other technical officials, Musasizi stressed the need for Finance Ministers to incorporate climate objectives into fiscal policies, budgeting, planning, and debt management, while mobilizing both public and private resources.
He also affirmed Uganda’s commitment to working closely with all 98 member countries and institutional partners such as the World Bank and the IMF.
According to the World Bank, the coalition's Principles are aspirational, giving member countries a shared purpose. The specific roles of Finance Ministers may vary by country, but members operate within their respective mandates to apply the Principles.
The Principles also mention the provision of technical assistance from development partners. For instance, the World Bank has programs like the Carbon Accelerator Programme for the Environment (CAPE) and the Nationally Determined Contributions (NDC) Support Facility. Additionally, institutions such as the IMF, OECD, UNDP, and other UN agencies offer analytical and technical support to countries.
