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Business News of Friday, 27 September 2024

    

Source: bloomberg

World Bank Seeks LGBTQ Compromise to End Loan Freeze in Uganda

World Bank Seeks LGBTQ Compromise to End Loan Freeze in Uganda World Bank Seeks LGBTQ Compromise to End Loan Freeze in Uganda

The World Bank is working with Uganda to lift a lending freeze imposed after Uganda passed anti-LGBTQ legislation in August 2023. The Bank halted new loans over concerns the law discriminates against LGBTQ individuals.

To resume funding, the World Bank and Uganda are implementing measures to ensure LGBTQ communities have equal access to projects funded by the lender.

However, over 100 civil society groups criticized these measures, questioning their effectiveness and Uganda's role in implementation.

The World Bank has not set a date to assess the success of these measures, but Uganda's finance ministry supports the plan.

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