World Bank stops providing fresh loans to Uganda due to its anti-LGBTQ law
World Bank stops providing fresh loans to Uganda due to its anti-LGBTQ law
Thank you for reading this post, don't forget to subscribe!In response to Uganda’s contentious anti-LGBTQ law, the World Bank has stated that it will stop making new loans to that nation.
The lender with headquarters in Washington, DC, announced on Tuesday that it would halt project financing while it reviewed the procedures it had put in place to safeguard sexual and gender minorities against prejudice and exclusion in its projects.
The World Bank Group stated in a statement that “Uganda’s Anti-Homosexuality Act fundamentally contradicts the World Bank Group’s values.”
“We think that in order for our goal to flourish, everyone must be included, regardless of color, gender, or sexual orientation. This law undercuts those initiatives. Our work is centered on inclusion and against discrimination anywhere in the world.
Additionally, the lender stated it will strengthen third-party oversight and complaint redress processes “allowing us to take corrective action as necessary.”
The World Bank Group stated in May that it was “highly concerned” about the law’s adoption since it did not align with the lender’s ideals.
As soon as he entered office in June, World Bank President Ajay Banga was under pressure from 170 civic organizations to take “specific, concrete, and timely actions,” such as freezing further lending.
Human rights organizations have extensively denounced the anti-LGBTQ law, which mandates a 20-year prison sentence for “promoting” homosexuality and the death penalty for “aggravated homosexuality,” an offense that includes the transmission of HIV through gay s3x.
In response to the legislation, which was approved by President Yoweri Museveni of Uganda, the US placed travel restrictions on Ugandan officials in June.
International criticism of the policy, which Museveni has defended as necessary to prevent the LGBTQ community from seeking to “recruit” individuals and described as a psychological condition, has been rebuffed by Museveni, who has described homosexuality as such.
The World Bank said in a statement on Tuesday that despite the delay on financing, it remained committed to helping Uganda.
The lender stated, “The World Bank Group has a long-standing and fruitful engagement with Uganda; and we are committed to helping all Ugandans – without distinction – escape poverty, access necessary services, and better their lives.
