World bank suspends funding to Uganda


The World Bank Group took a decision to withhold new lending to Uganda effective August 22, 2016.

The bank said in a statement that it was reviewing the country’s portfolio in consultation with the Government of Uganda.

“We continue to actively work with the Ugandan authorities to address the outstanding performance issues in the portfolio, including delays in project effectiveness, weaknesses in safeguards monitoring and enforcement, and low disbursement.”

The bank reiterated its commitment to doing everything possible to work closely with the Government of Uganda, as well as with other stakeholders, to support the country’s development and ensure that all World Bank-supported projects deliver tangible and long-lasting results to all Ugandans, especially the poor and vulnerable.

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