Uganda’s President has delivered a moving speech.
Uganda’s President Yoweri Museveni has just delivered a moving speech at the International Development Association (IDA) Africa Heads of State Summit in Nairobi, Kenya, emphasizing the urgent need for the World Bank to shift from profiteering agenda to prosperity in Africa.
The summit has been called to among other things, to outline key financing priorities for Africa and advocate for a substantial replenishment of resources for the International Development Association (IDA), known as IDA21.
In his address early on Monday, President Museveni expressed his frustration with the conduct of the World Bank’s financial relations with African nations especially on credit.
“I am tired of all these stories…these neo-colonial civil servants who have been holding us back, i have put my foot down, i don’t want to hear those stories… and Uganda is developing and it will develop because i don’t entertain that nonsense anymore,” President Museveni said.
He added, “Borrowing for what? capacity building. Imagine! Seminars, they call you in a hotel, you eat chapati, mandazi, they say that is capacity building…it should be on the ground not just seminars. So if you are serious, i need to hear about the low cost funding for manufacturing, not for stories…for manufacturing.”
The International Development Association is the World Bank’s fund for the so called poorest countries.
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