Yoweri Museveni, the Ugandan President had on Thursday criticised the World Bank’s resolve to postpone new funding in response to the country’s harsh anti-LGBTQ law.
Museveni has promised to seek different sources of credit.
Recall that the World Bank had announced on Tuesday, August 8, that the Ugandan law, imposing the death penalty for some same-sex acts, went against its values, and that it would halt new funding for the country until it could test measures to avoid discrimination in projects it finances.
Note that the World Bank already has an existing portfolio of $5.2 billion in Uganda, but these projects will not be affected.
Uganda’s anti-LGBTQ law, was approved in May, and has since then, drawn widespread condemnation from local and international rights organisations and Western governments as well. However, this decree is very popular domestically.
President Museveni, while reacting to the World Bank’s stance had said in a statement that Uganda was looking towards reducing its borrowing in any case, therefore, it would not give in to pressure from foreign institutions to rescind its law.
In Museveni’s words:
“It is unfortunate that the World Bank wants to coerce us into abandoning our faith, culture, principles and sovereignty, all because of money. They really underestimate Africans as a whole.”
Museveni had added that if the country so wished to borrow, it could do so from other sources, and that its planned oil production expected to commence by 2025 would provide additional revenues for the country.
Finally, President Museveni, expressed hope that the World Bank would reconsider its decision.
Back in June, the United States government placed a visa ban on some Ugandan officials in response to the law. Additionally, President Joe Biden ordered for a review of the U.S. aid to Uganda.
