The World Bank stops loans to Uganda
The World Bank has stopped fresh lending to Uganda citing the recent enactment of anti-LGBTQ law by President Museveni. The multilateral lender said no new public financing to Uganda will be presented to our Board of Executive Directors until the efficacy of the additional measures has been tested.
Uganda’s Anti-Homosexuality Act fundamentally contradicts the World Bank Group’s values, the Washington based lender explained.
“We believe our vision to eradicate poverty on a livable planet can only succeed if it includes everyone irrespective of race, gender, or sexuality,” the World Bank noted.
The World Bank had provided $5.4 billion in International Development Association financing to Uganda by the December 2022 targeting projects in the country’s health and education sectors.
