The State Minister for Finance, Henry Musasizi, has told Parliament that the government and the World Bank are engaged in heavy negotiations regarding the recent decision halting funding to Uganda over the passing of the Anti-Homosexuality Act.

The minister urged Ugandans not to worry about losing the lender because the negotiations will yield positive results.

“We have made significant progress. There are a number of benchmarks they have given us to do, and there is information they have asked us to provide and also evidence that certain things they were querying will be addressed,” Musasizi said.

“We have continuously provided all the information and addressed all the issues that they keep raising and we are optimistic that we shall reach a position between us and the World Bank which is very positive, so there shouldn’t be any reason to worry about the decision World Bank took,” he added.

On August 8, 2023, in a Press Statement, the World Bank said it had suspended lending to Uganda because the 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,” the World Bank said, adding, “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.”