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World Bank Halts New Uganda Loans Over Anti-LGBTQ law

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The World Bank will halt new loans to Uganda over the country’s controversial anti-LGBTQ law.

On Tuesday, the Washington, DC-based financial institution issued a statement on the matter.

The complete statement appears below:

“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. This law undermines those efforts. Inclusion and non-discrimination sit at the heart of our work around the world.

Immediately after the law was enacted, the World Bank deployed a team to Uganda to review our portfolio in the context of the new legislation. That review determined additional measures are necessary to ensure projects are implemented in alignment with our environmental and social standards. Our goal is to protect sexual and gender minorities from discrimination and exclusion in the projects we finance. These measures are currently under discussion with the authorities.  

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.

Third-party monitoring and grievance redress mechanisms will significantly increase, allowing us to take corrective action as necessary.

The World Bank Group has a longstanding and productive relationship with Uganda; and we remain committed to helping all Ugandans—without exception—escape poverty, access vital services, and improve their lives.

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4 COMMENTS

  1. oh boy…u all will have to answer to God someday……whether we like it or not…..and st lucia and other countries if you put anti laws here they come……be ready to be taken off life support….

  2. They will not withhold loans if Uganda throws half the population in Jail for peaceful protest but will withhold loans because you go after the alphabet crowd. Hope you people are paying attention. There is a time to act. And it is now. Our tolerance has led to their forcing this down everyone’s throat. Either you bend over for them or you are cut off from banking.

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