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NO NEW LOANS TO ANTI-LGBTQ UGANDA-World Bank

NO NEW LOANS TO ANTI-LGBTQ UGANDA-World Bank

The World Bank said on Tuesday it would bring to an end new lending to the Ugandan government after ultimately finding that its anti-LGBTQ law, which has been enacted by the Uganda Government and condemned by many LGBTQ Loving Nations and the United Nations, may contradict the bank's values.

"No new public financing to Uganda will be presented to our Board of Executive Directors until the efficacy of the additional measures has been tested," the bank said in a statement, adding that such measures were now under discussion with Ugandan authorities

"Uganda's Anti-Homosexuality Act fundamentally contradicts the World Bank Group's values. We believe our vision to eradicate poverty on a livable planet can only succeed if it includes everyone irrespective of race, gender, or sexuality," the bank said.

"We remain committed to helping all Ugandans - without exception - escape poverty, access vital services, and improve their lives."

Immediately after the law was enacted in May, a World Bank team traveled to Uganda and determined that extra measures were desirable to ensure projects were being implemented in line with the bank's ecological and social standards.

It’s said that On June 15, 170 civic groups urged the then New World Bank President Ajay Banga to take "specific, concrete and timely actions" in response to the Uganda anti-LGBTQ law, including suspending future lending.

Private sector projects backed by the International Finance Corporation and the Multilateral Investment Guarantee Agency (MIGA) would proceed only "on a selective basis," the bank said in a separate note

In response Uganda’s State Minister for Foreign Affairs, Okello Oryem said "There are many Middle East countries who do not tolerate homosexuals, they actually hang and execute homosexuals, in the United States of America many states have passed laws that are either against or restrict activities of homosexuality ... so why pick on Uganda?, The World Bank has been put under pressure by the usual imperialists."