Uganda President Yoweri Museveni has criticised the World Bank's decision to suspend funding following the country's move to enact the Anti-Homosexuality Act 2023.
In a statement on Wednesday, August 9, Museveni denounced the suspension vowing that the country will not be forced into any agreement that is against its norms in exchange for funding.
"It's 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," said Museveni.
Museveni said that his country could do without the loans and would seek alternative means if the need arises.
"Uganda will develop with or without loans. If there is an absolute need for borrowing, there are a number of 'non-Bretton Woods' sources from where we can borrow," he added.
The 78-year-old Head of State further stated that Uganda will not be pressured by anyone, rather it will solve its own internal issues, adding, "they are our problems."
Museveni hopes that the World Bank will reconsider its decision.
"We are continuing to talk with the World Bank so that both them and us avoid this diversion if possible."
On Tuesday, the World Bank in a statement announced suspending the financing to Uganda terming the Anti-LGBTQ law as one that contradicts the lenders' values.
"Uganda's Anti-Homosexuality Act fundamentally contradicts the World Bank Group's values. 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."
President Museveni assented the Anti-Homosexuality bill into law in May this year and has drawn a lot of criticism from across the globe.
The act considered one of the harshest imposes the death penalty for so-called 'aggravated homosexuality', which includes having gay sex when HIV-positive, and a 20-year sentence for 'promoting' homosexuality.
