“Many of the Loans and Foreign Aid Packages, are either of no Value Addition to the Country or are even Anti-growth, all together”- Says President Museveni

Ugandans and, especially the Bazukulu.

Further to my message of the 9th August, 2023, I would like to reiterate that foreign aid and loans are welcome and can be of some use if designed and executed by patriots (not neo-colonial agents), but are neither decisive nor indispensable elements for our desired social-economic transformation. On the contrary, those loans and aid packages, can be a source of distortion and stunted growth as you can see across Africa. If foreign aid and loans, are a source of social-economic transformation, why the present growing crisis of even security and stability in Africa? Look at Guinnea-Conakry, Mali, Burkina-Faso, Niger, Central African Republic, DRC, Boko Haram in Nigeria, Somalia, Mozambique, etc. Most of these Countries, have been getting those grants and loans.

Many of the loans and aid packages, are either of no value addition to the Country or are even anti-growth, all together. In the Ministry of Agriculture, Animal Industry and Fisheries, for instance, we discovered that a total of USD 800million had been borrowed over a period of ten years, but that Ministry did not have zonal diagnostic labs and Research centres, did not repair the mechanization centres and did not buy the mechanization equipment like combine harvesters or even tractors, no irrigation equipment for farmers, no value addition equipment, etc. Much of that money was spent on seminars etc.; yet, those are the basic requirements of that Ministry, if it is to assist in the struggle for Social- economic transformation.

Get full statement below…