President Yoweri Museveni has downplayed the role of World Bank’s loans noting that they can easily do away with them and nothing happens.
According to Museveni, many of the loans and aid packages, are either of no value addition to the country or are even anti-growth.
The president said this in statement released today about the suspension of extending loans to Uganda by the World Bank. The World Bank recently announced that it had suspended lending to Uganda over the passing of the Anti-Homosexuality law which they said is against their principles.
According to Museveni, foreign aid and loans have been a source of unfair policies that the country has been subjected to and are directly against growth. He cited one clause in aid from development partners that barred Uganda from purchasing locally produced ARVs by Quality Chemicals to be given to HIV/AIDS patients. Museveni insisted that Uganda has in the past years been able to fund some of its development agenda using her own money, other than from development partners.
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