Home Headlines Western Funding in Africa Are Anti-Growth – Museveni

Western Funding in Africa Are Anti-Growth – Museveni

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Yoweri Museveni
Yoweri Museveni

Uganda’s President Yoweri Museveni said that many of the loans and aid packages from the western countries are of no value addition to his country or even anti-growth.

“Many of the loans and aid packages are either of no value addition to the country or are even anti-growth, all together,” said the president in his latest response to the World Bank’s decision to halt financing to Uganda over the enactment of a controversial anti-homosexuality law in the east African country.

Loans and aid packages from the West had brought a lot of distortion and stunted Uganda’s growth as well as the entire continent, Museveni was quoted as saying by a statement released on Thursday by State House.

As a solution, Museveni said the country’s army, infrastructure, private sector and abundant market in Africa, China, Middle East and Russia would fill the void.

He blamed Africa’s “miserable” economic performance on the western world which looked at Africa only as producers of raw materials.

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