Uganda Will Develop with or without World Bank Loans

President Yoweri Kaguta Museveni has asserted that uganda can progress economically with or without the support of the World Bank. In an address to Ugandans, he made a revelation that a World Bank official rang him about the statement from WB suspending any requests from Uganda for loans.

Museveni highlighted that in the past, loans were often approved unnecessarily and without his consent by officials, which led to a more cautious approach to borrowing. He expressed confidence in Uganda's growth potential, citing the forthcoming oil production in 2025, and emphasized the importance of discipline, patriotism, and combating corruption for the country's prosperity. "If there's absolute need for borrowing, there are a number of non-Breton Woods from where we can borrow," he said.

President Museveni criticized the World Bank for attempting to influence Uganda's stance on its anti-LGBTQ law using financial pressure. He clarified that the law targets actions such as coercing or recruiting others into homosexual behavior, rather than the individual's sexual orientation itself. He stated that Uganda is open to addressing any logical issues in the law but emphasized that the country does not require external pressure to solve its societal problems.

"It is, therefore, unfortunate that the World Bank and other actors dare to coerce us into abandoning our faith, culture, principles and sovereignty, using money. They really underestimate all Africans," Museveni noted. "We are continuing to talk to the World Bank so that both they and we avoid this diversion if possible."