Uganda president defiant after World Bank suspends funding over LGBT law

[Eugene]

Source: Reuters

Uganda president defiant after World Bank suspends funding over LGBT law

Elias Biryabarema
Updated Thu, August 10, 2023 at 7:10 AM EDT·2 min read

KAMPALA (Reuters) -Uganda's President Yoweri Museveni on Thursday denounced the World Bank's decision to suspend new funding in response to a harsh anti-LGBTQ law and vowed to find alternative sources of credit.

The country would have to revise its budget to absorb the move's potential impact, a junior finance minister said.

The World Bank said on Tuesday that the law, which imposes the death penalty for certain same-sex acts, contradicted its values and that it would pause new funding until it could test measures to prevent discrimination in projects it finances.

The World Bank has an existing portfolio of $5.2 billion in Uganda, although these projects will not be affected.

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