Uganda was one of the first recipients of budget support from international donors in the late 1990s, in what was seen as a pro-development partnership between a reform minded government and external funders. From 1998 to 2012, donors supported the government of Uganda’s development agenda by providing direct budget financing of $5.36 billion. But this positive story had unravelled by 2012, with the views of the government and donors diverging over political governance and the use of public funds. So, what fuelled early success, and what changed? How should we judge the results of 15 years of partnership and financial support?