Uganda has held their own, sticking to a decision to outlaw LGBTQ practices, making them punishable under the law, despite global lender, World Bank’s decision to halt further loans to the African country.
President Museveni says the country will reduce borrowing and not give in to pressure from foreign institutions.
Museveni criticized the World Bank’s decision to suspend new funding and has promised to find alternative sources of credit.
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,” he said.
Museveni said that if Uganda needs to borrow, it could tap into other sources and oil production expected to start by 2025 Would provide additional revenues.
Museveni has previously commented on the West’s blatant disrespect for Africa’s sovereignty. He cited the instance where NATO prevented African leaders from landing in Libya on a peacekeeping mission, on African soil.
Read also: US imposes sanctions on Uganda for anti-gay law
Museveni described the incident as contemptuous.
The World Bank had said that the law contradicted its values and would suspend new funding until it could test measures to prevent discrimination in projects it finances.
“We believe our vision to eradicate poverty on a livable planet can only succeed if it includes everyone irrespective of race, gender, or sexuality. This law undermines those efforts. Inclusion and non-discrimination sit at the heart of our work around the world,” it said in a statement.
The World Bank has an existing portfolio of $5.2bn in Uganda, and these projects will not be affected.
The Ugandan government will ask parliament to vote on a revised budget for July 2023 to June 2024 to reflect the potential financial impact of the lending suspension, junior finance minister Henry Musasizi told parliament on Thursday.
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