Projects worth 6.7 trillion shillings are likely to have caught strays from the cross fire between government of Uganda and the World Bank following its statement in which the bank promises to halt any new project financing and review of ongoing projects citing concerns of discrimination and passing of the Anti-Homosexuality Act.
Economic experts warn that the bank’s actions could be injurious to the Ugandan economy given that there is no plan out of the hole until her oil and gas resources start flowing which is not guaranteed even in 2025.
The Washington DC based development partner, the World Bank Group, in a statement dated August 08, 2023 raised concerns about Uganda’s anti homosexuality law terming it as discriminatory and contradictory to the Word Bank Values.
President Yoweri Museveni, responded with a hand-written letter whose interpretation has been a subject to debate in the public spectrum.
In his letter Museveni scoffed at the Bank saying that “Uganda can develop with or without the loans. END.