Government Advised On Way Forward After World Bank Cut Funding To Uganda

Posted by: Kyeyune Andrew Jonathan in Uganda news August 11, 2023

Legislators have asked government to step up frugality in public expenditure following World Bank’s decision to suspend financial support to Uganda. This followed Uganda’s decision to enact the Anti-Homosexuality Act, 2023.

According to the World Bank, the Act is in direct contradiction with its values.

MPs share a concern that Uganda’s future remains uncertain with the World Bank withdrawing its aid. However, they noted that despite their worry, they do not regret passing the law apparently aimed at preserving Uganda’s values.

MP Asuman Basalirwa of Bugiri Municipality, the mover of the law advised the government to consider the Middle East for aid. He said the region offers cheaper loans with less strings attached.

“We were representing the views and interests of the people of Uganda. This has been the most popular bipartisan piece of legislation in the history of parliament of Uganda,” Basalirwa said.

He added saying that one can never regret doing the right thing.

About two days ago, the US based World Bank announced its halting of financial aid to Uganda. The decision came after the country’s passing of the controversial anti-Homosexuality Act, 2023.

However though, President Museveni has since reassured Ugandans that even without loans, the country will still develop.

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