KAMPALA (Reuters) – Uganda’s President Yoweri Museveni on Thursday criticized the World Bank’s decision to suspend new funding in response to a harsh anti-LGBTQ law and pledged to explore alternative sources of credit.
The World Bank announced on Tuesday that the law, which imposes the death penalty for certain same-sex acts, contradicted its values. As a result, it would temporarily halt new funding until it could implement measures to prevent discrimination in its financed projects.
Although the World Bank currently has a portfolio of $5.2 billion in ongoing projects in Uganda, these will not be impacted by the suspension.
While the anti-LGBTQ law has received condemnation from local and international human rights organizations as well as Western governments, it remains popular within Uganda.
In a statement, Museveni expressed Uganda’s commitment to reducing its borrowing and rejected pressure from foreign institutions. He stated, “It is, therefore, unfortunate that the World Bank and other actors dare to want to coerce us into abandoning our faith, culture, principles, and sovereignty, using money. They really underestimate all Africans.”
Museveni also highlighted that Uganda could seek borrowing from other sources if needed, and the anticipated commencement of oil production by 2025 would generate additional revenue.
He expressed hope that the World Bank would reconsider its decision.
In response to the anti-LGBTQ law, the United States previously imposed visa restrictions on certain Ugandan officials in June. President Joe Biden has also ordered a review of U.S. aid to Uganda.
Reported by Elias Biryabarema; Edited by George Obulutsa, Aaron Ross, and Bernadette Baum
Credit: The Star : News Feed
