Government to revise National Budget after World Bank stops funding

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The Minister of State for Finance, Henry Musasizi has informed Parliament that Government intends to revise the national budget, after World Bank halted funding to Uganda following the passing into law the Anti-Homosexuality Act 2023 & emoluments of public servants could be affected during parliamentary session yesterday 10th august 2023.

The Anti-Homosexuality Act of 2023 was enacted into law, and yesterday, August 10, 2023, the Minister of State for Finance, Henry Musasizi, informed Parliament that the Government intended to revise the national budget in response to the World Bank’s suspension of funding to Uganda.

Musasizi raised this during parliament session, urging MPs to prepare and approve their request once they appear for it in the house.

Musasizi noted that Uganda took the firm decision of passing into law the anti-Homosexuality and therefore should now be ready to face the consequences.

“We shall be coming soon; I want to prepare your minds that very soon we are going to revise the budget & we shall be coming to you for support. Even the emoluments will be affected. We shall be coming here to ask for your approval on how we shall move forward in the current challenges,” Minister Musasizi.

Meanwhile Amos Kankunda, the chairperson Finance Committee has revealed that Parliament doesn’t regret the decision it took to pass into law the Anti-Homosexuality Act 2023, saying the Committee will offer leadership to Uganda on how to survive the financing ban imposed by the World Bank.

“I know you are aware that as a country, we have been slapped with stopping funding from the World Bank, given the position we took as a country which we don’t regret for the passing of the Anti-Homosexuality law & indeed, we are on the right trajectory. We will find ways of surviving,” Kankunda.

In a statement issued on Tuesday, the Bank said Uganda’s Anti-Homosexuality law contradicts its values.

Asuman Basalirwa MP Bugiri Municipality) mover of the Anti-Homosexuality bill now law in Uganda accused World Bank of double standards, wondering why homosexuality rights are treated as supreme rights over other human rights violations Ugandans have endured, yet in all these cases, the World Bank remained silent.

“I find it as a display of double standards, what they are trying to do to us is actually blackmail. In fact, Uganda doesn’t have the harshest law. In Ghana, even mere expression has been criminalized, here, we don’t even criminalize existence. So why do they want to make the whole world assume that homosexual rights are superior and therefore, if the law comes to limit those rights, everybody should be up in arms,” Basalirwa.

Basalirwa has now called on Uganda to look for new friends in Asia & Arab world, saying World Bank isn’t funding any project in Afghanistan but its people are still surviving & with Uganda being a God-fearing nation, it must now fight corruption with a purpose of saving money to fill the gap left by World Bank.

Meanwhile, President Museveni has assured Ugandans that the country will develop with or without loans. 

In a statement issued on Tuesday, the Bank said Uganda’s Anti-Homosexuality law contradicts its values.

“Uganda’s Anti-Homosexuality Act fundamentally contradicts the World Bank Group’s values,” the development lender said in a statement Tuesday, adding that “no new public financing,” would be presented to the bank’s board of directors for approval for the time being.

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