Keep Your Loans: President Museveni Fires Back at the World Bank Over Funding Suspension

2 mins read

Ugandan President Yoweri Museveni has fired back at the World Bank’s decision to freeze loans to the nation following the enactment of Uganda’s controversial anti-LGBTQ law.

Declaring the nation’s self-sufficiency from external financial support, President Museveni tweeted, “Uganda will develop with or without loans,” echoing the sentiment that the nation’s progress is undeterred by such a suspension.

The President acknowledged past instances where loans were approved without his knowledge and emphasised a strategic shift towards cautious borrowing.

“We are now borrowing less and cautiously,” he asserted, underscoring Uganda’s steady economic growth despite global challenges such as the ongoing European conflict and the pandemic.

President Museveni highlighted Uganda’s imminent leap into oil production by 2025 as a cornerstone for financing the nation’s development ambitions.

The President placed faith in Uganda’s thriving agricultural sector, burgeoning industries, and expanding services industry to pave the way for financial independence.

Beyond finances, President Museveni vehemently expressed Uganda’s unwavering commitment to its core values. He stood firm against external pressures, stating, “They really underestimate all Africans,” as he defended the nation’s faith, culture, principles, and sovereignty against any form of coercion.

Addressing the concerns surrounding the anti-LGBTQ law, President Museveni clarified that its focus lies on actions that recruit or coerce individuals into homosexual behavior, rather than targeting individuals based on their sexual orientation.

The President extended an invitation to amend any perceived gaps in the legislation, reiterating Uganda’s autonomy in resolving its internal issues.

Leave a Reply

Your email address will not be published.

Previous Story

Ruto Winds Up 5-Day Mt Kenya Tour, Commits to Implementing The Plan

Next Story

Kenyans Will Thank Mercy Tarus for Standing Up for the Country and the Youth

Latest from Blog