Uganda stays resilient amid World Bank loan suspension, Tayebwa assures MPs

Deputy Speaker of Parliament, Thomas Tayebwa, has reassured legislators regarding the recent suspension of loan funding by the World Bank, emphasising that Uganda will not face a shutdown due to this decision.

Tayebwa, who chaired the plenary on Tuesday, stressed that the nation is well-prepared and resolute in response to the World Bank’s move. Addressing MPs’ concerns about potential repercussions, he expressed confidence in the decision made collectively by the Parliament.

The Deputy Speaker said that the house was aware that challenges might arise regarding Uganda’s stance on matters like homosexuality, and assured that these challenges will be handled appropriately.

“While we knew there might be threats, let us remain composed. I observed a communication from the President, stating that they are engaged in discussions with the World Bank. Therefore, there is no need for alarm,” he said, urging the Executive to manage international relations, including dialogues with the World Bank.

Tayebwa also called upon the Ministry of Finance to provide an update to Parliament on any intended actions related to reviewing the national budget.

“Please, Executive, fulfil your responsibilities, handle foreign relations, engage with the World Bank, and should you require our involvement, we are ready to contribute,” he added.

State Minister for Finance, Henry Musasizi, revealed that the Ministry has informed the Speaker’s office about its forthcoming discussions with the Finance, Budget, and National Economy Committees.

Last week, President Yoweri Museveni criticized the World Bank for employing financial pressure to influence his government’s stand on anti-homosexuality legislation. The President’s comments followed the World Bank’s announcement of suspending new loans to Uganda due to concerns over the Anti-Homosexuality Act.

Museveni asserted that Uganda’s progress will continue with or without loans, arguing that external pressures will not sway the country’s principles and sovereignty.

While acknowledging ongoing discussions with the World Bank to address the situation, President Museveni affirmed the nation’s commitment to solving its own challenges independently.