The Minister, who was appearing before the parliamentary committee on finance on Thursday, August 10, 2023, said that the World Bank decision is likely to affect the emoluments of some public servants.
"We took a firm decision, and we agreed that we would face the consequences. We shall be coming soon. I want to prepare your minds that very soon we are going to revise the budget downwards, and we shall be coming to you for support. Even the emoluments are going to be affected given the preliminary results we are seeing. We shall be coming in one week or so to tell you the consequences and ask for your approval on how we shall move forward with the current challenges," Musasizi said.
The chairperson of the parliamentary finance committee, Amos Kankunda, however, said that Parliament does not regret the decision it took to pass into law the Anti-Homosexuality Act 2023, saying the committee will offer leadership to Uganda on how to survive the financing ban imposed by the World Bank.
"I know you are aware that, as a country, we have been slapped with the stopping of funding from the World Bank, given the position we took as a country, which we don’t regret for the passing of the Anti-Homosexuality Law, and indeed, we are on the right trajectory. We will find ways of surviving, and as a committee, this is our responsibility since we handle mainly the supply side of the budget, to make sure we work with the Ministry to mobilise sufficient funds and work within our means to make sure the country moves on," Kankunda said.
The World Bank announced on Wednesday, August 9, 2023, that all public financing for Uganda will be suspended.
The bank said that the Anti-Homosexuality Act, which was passed by Uganda early this year, is not in line with the core values of the bank.
President Museveni, however, fired back at the bank, saying that "Uganda will develop with or without loans."