World Bank resolution won’t affect EACOP – Minister
The Ministry of Energy and Mineral Development says the East African Crude Oil Pipeline Project (EACOP) will not be affected by the World Bank aid cut to Uganda.
Speaking to journalists at the Uganda Media Centre on Thursday, the minister of state for Energy and Mineral Development, Peter Lokeris said they have other ‘friends’ who will fund the ministry’s works. He made the remarks while updating journalists on the progress of Ugandan’s extractive industry.
“We have got many friends. Other people will give us the money and that’s why the President [Museveni] said we don’t need them very much,” Lokeries said before explaining that the EACOP project will be undertaken by private companies.
Relatedly, the state minister for Finance, Henry Musasizi has informed Parliament that government intends to revise the national budget after World Bank halted funding to Uganda following the adoption of the Anti-gay law.
“We took the firm decision and we agreed that we shall 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 & we shall be coming to you for support. Even the emoluments are going to be affected given the preliminary we are seeing,” Musasizi said.
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