The World Bank has announced a suspension of new loans to Uganda, responding to the country’s enactment of a controversial anti-LGBTQ law. Based in Washington, DC, the international financial institution stated that it would pause project financing while it reviews measures designed to safeguard sexual and gender minorities from discrimination and exclusion in its projects.
In a statement, the World Bank emphasized that Uganda’s Anti-Homosexuality Act fundamentally conflicts with its core values. The bank highlighted its commitment to eradicating poverty and ensuring inclusivity and non-discrimination in its global operations, asserting that the law hinders these objectives.
To enhance oversight, the World Bank plans to implement increased third-party monitoring and establish grievance redress mechanisms. These steps are intended to allow the bank to take necessary corrective actions.
The bank first expressed its concern about the law in May, stating that it contradicted the institution’s values. World Bank President Ajay Banga, who assumed office in June, faced calls from 170 civic groups to take decisive action against the legislation, including the suspension of future lending to Uganda.
The anti-LGBTQ law in Uganda has drawn widespread international condemnation from human rights organizations. It introduces severe penalties, including capital punishment for “aggravated homosexuality,” which encompasses HIV transmission through gay sex, and lengthy prison terms for “promoting” homosexuality.
The United States has already imposed travel restrictions on Ugandan officials in response to the law, which was signed by President Yoweri Museveni. Museveni has defended the legislation, arguing it is necessary to prevent the LGBTQ community from “recruiting” people, despite facing significant international criticism.
Despite the halt in new financing, the World Bank affirmed its commitment to continuing its assistance to Uganda. The bank’s statement emphasized its ongoing dedication to helping all Ugandans, without exception, to overcome poverty, access essential services, and improve their quality of life.
Discover supply chain news insights on The Supply Chain Report. Enhance your international trade knowledge at ADAMftd.com with free tools.
#WorldBank #UgandaLGBTQLaw #AntiLGBTQLaw #AjayBanga #HumanRights #InternationalFinance #Uganda #Discrimination #NonDiscrimination #SexualMinorityRights #InclusiveDevelopment #GlobalFinance #PovertyEradication #LGBTQRights #UgandaLegislation #HumanRightsCondemnation #UgandaTravelRestrictions #FinancialAssistance #GlobalOversight #WorldBankCommitment
