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Musevens's response to World Bank which said it is nolonger giving new loans to Ugandan government due to signing the Anti homosexuality law.
Well President said that on Wednesday night,officials from World Bank called him saying that the Bank has suspended Loans.
He added that Uganda will sevive with or without World Bank's loans.
However,World Bank said that Anti homosexuality law was ment to protect volunarable groups and children from Home by Ugandan legislators which contradicts with World Bank groups and it's advantages.
President said that World Bank's decision is so unfortunate and that western countries want Ugandans to abandon their culture,that they underestimate Africans.
Museveni added that in the past ,some loans were carelessly signed without his approvals.
That now days the nation borrows little money .
However, World Bank's portfolio of IDA finaced credits were around Shs 5.4billion in commitments compraising four regionals projects and 22 nantions.
Well World Bank's officials said that after Uganda's current President signing the Anti homosexuality law,they deployed several groups of exparts to review it's portfolio into contexteing of the latest legislation.
Worldank officials said that reviewing it's portfolio determined additional measures which was important for the projects to be implemented with their Social standards.
However, World Bank said that their motive is to protect sexual and gender from being discriminated from projects which are being funded by them.
They said that there won't be more public financing to Uganda and untill further notice.
Uganda's current President said that the nation doesn't need World Bank's loans to solve its problems.
However,professionals said that Uganda's government should get more loans to finance it's expenditures which may result to high rates. Getting loans from private sectors may slow the growth of economy.
The President said that Uganda's economy is manufacturing and agriculture.ln 2025 Uganda must have sources of revenues from oil production.
However,the signed Anti homosexuality law (AHA) is restricted to Lesbians, Transgender,Gay,Intersex and Bisexuals (LGBTQI+) it has harsh Punishment's like life imprisonment for an aggravated homosexuality and death.
Today World Bank warned the third parties following should increase to enable them make reasonable actions.
World Bank said that they their motive is to fight poverty on in people's lives which can only succed if they include everyone despite their sexuality.
Well the Anti homosexuality signed law undermines world Bank's effort of fighting poverty.
The Anti homosexuality law was signed in May 2023 and welcomed across the nation,
However,the law was condemned by many western counties.
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