Following the World’s Bank new loan sanctions on Uganda, President Museveni has reassured the group and public of Uganda’s potential to develop with or without loans.
On August 8, the World Bank Group, in her statement revealed how no new public financing to Uganda will be presented to their Board of Executive Directors until the efficacy of the additional measures has been tested.
The said measures were passed because of the Anti-Homosexuality Act which they said fundamentally contradicted with their values and vision to eradicate poverty irrespective of race, gender, or sexuality.
In his response however, President Museveni revealed how he was dismayed by the continued lack of respect for the African culture but also under estimate for the power of all Africans.
“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 under-estimate all Africans,’ he said. Adding, we do not need pressure from anybody to know how to solve problems in our society. They are our problems.
He thus urged that there be continuing talking with the World Bank so that both avoid the ongoing diversion if possible.
Museveni added however that he was optimistic about how things were moving in Uganda in spite of the corruption of some Public Servants and some elements of the political class who he said will soon be held accountable.
Of the recently approved Budget for financial Year 2023/4 of Shs 52.7Tn reveals that only Shs 29.7 Trillion is expected to be collected from revenue budget and the rest funded by borrowing.
The World Bank Group therefore continues to be one of Uganda’s longstanding and productive relationship committed to helping the country escape poverty, have access vital services, and improve people’s lives.
