Uganda’s President, Yoweri Museveni, on Thursday, condemned the World Bank’s decision to suspend loans to the country over its law that opposes lesbian, gay, bisexual, transgender, and queer practices.
Museveni added that Uganda will not bow to pressure into abandoning its culture and principles.
He said, “It is, therefore, unfortunate that the World Bank and other actors dare to want to coerce us into abandoning our faith, culture, principles and sovereignty, using money,” Reuters reports.
“They really underestimate all Africans,” he added.
The World Bank on Tuesday said it will suspend funding to Uganda over the country’s law against LGBTQ practices.
It will be recalled that earlier reports noted that Uganda’s anti-LGBTQ law includes life imprisonment and a death sentence as penalties for anyone convicted.
However, Museveni said that if Uganda needed to borrow, it could do so from other sources and that oil production expected to start by 2025 would provide additional revenues.
Uganda’s anti-LGBTQ law has drawn criticism from around the globe.
In June, the United States imposed visa restrictions on some Ugandan officials in response to the law. President Joe Biden also ordered a review of U.S. aid to Uganda, Reuters reports.
The World Bank has an existing portfolio of $5.2 billion in Uganda.