Uganda gets $295 Mn from Saudi Bank: Riyadh the new Lender for Africa? | Vantage with Palki Sharma
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- Опубликовано: 29 апр 2024
- Uganda gets $295 Million from Saudi Bank: Riyadh the new Lender for Africa? | Vantage with Palki Sharma
Uganda's foreign minister was in Saudi Arabia's capital Riyadh this week. On Tuesday, he announced that the country has secured a $295 Million loan from Saudi Arabia's Islamic Development Bank. Uganda has traditionally relied on loans from the World Bank. But last year, the World Bank froze funding to Uganda over an anti-homosexuality law. The World Bank wanted to tie future funding to the protection of Uganda's LGBTQ+ community. So instead of dealing with Western conditions, it seems that Uganda has found a new partner. Saudi Arabia seems to be taking a leaf out of China's book. Will Saudi Arabia become Africa's next big lender?
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Uganda | Saudi Arabia | Riyadh | LGBTQ | World Bank | China | Firstpost | World News | News Live | Vantage | Palki Sharma | News
#uganda #saudiarabia #riyadh #lgbtq #worldbank #china #firstpost #vantageonfirstpost #palkisharma #worldnews
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Am ugandan and this is only going to increase burden bse the funds borrowed have always been embezzled by corrupt leaders in govt
Uganda’s politicians will just corrupt this Money. Who will pay? Local citizens
Thank you, that money won't even get close to it being used for it's intended purpose. That cartel in power will send it to their Swiss accounts
Yes
Don't worry you will be fine. We better work with one who does not dictate
I personally don't care if the money is used to improve our quality of life, such as improving roads,helping farmers with modern technology, more rest rooms in the cities,clean water, good quality medicine in our hospitals. We the farmers we contribute almost 70 percent of nation economy.
Hi I’m from Saudi Arabia
I wish and hope great future for Uganda 🤍🤍 and safety
God bless
Finally to Hell with the Western world 🌎 let's make real progress . Imagine Think Paradigm Shift
You sound a little jealous of the western world. I guess I would too if I lived in a third-world country. #US strong! #EU strong!
West has no problem but we Africans have problem.since when Uganda started borrowing money from world bank,which Ugandan asset has world Bank confiscated...."none"china lent money to Uganda what happened we lost Uganda notional airport entebbe to china.
@@Greek0715Don't be so cocky as all u have built & now possess was & is still being STOLEN from these same "third world countries". U are leeches with pretty images
@@Greek0715All ur technology & industries depend directly on these said "third world countries" so ur presumed superiorism was only achieved thru piracy, tyranny, barbarism, & lots of deceptions death & destruction. Aint anything to be so proud of bruh & no one is JEALOUS of ur stinking history & legacy
@@Greek0715Not jealous. Just opposing Evil...
Good for Uganda 🇺🇬 👏
Don't bow down to outside instigators
And yet a rwandese has instigated poverty and enslavement of ugandans and murdered and looted millions . Which is worse?
You don't what's going on in Uganda 🇺🇬, these will be used by the corrupt leaders nothing will be done.
As a Ugandan, I don't mind us getting a loan, as long as it does what it's supposed to do.
Any Ugandan come here and see these😢😢
So disgusting...twekabile
Am here
I am Ugandan but the reporter is driving a baseless narrative. The truth is Museveni has the worst human record on the continent. (Ref to documentary by Bobwine call the ghetto president.) He has mass murders since 1980 even before. People started complaining to international community and started getting sanctions. But Museveni had an idea to make the west blackmailed and look bad by introducing homosexuality bill in Parliament on addition to the one which was already in force. This was for him to drive his anger on the west which had supported him for 40 years but bse human right record they were trying to turn away.
Please before you put anything in public first Investigate the matter s .. and dictators lie a lot don’t take their information outright.
They are going to loot it all for to pit in their pockets. What a sad state. And then july they are taxing the oxygen we breath and the sunshine and rain God gives us we are a dead country.
Am here
Islamic banks doesn't have interest so is far more better than the other banks
Says WHO???
@@YouCantHandleTheTruth. getting loan from a muslm is simple just give him back his exact money he gave to you. 10 million returns 10 million end of the story.
meanwhile this world bank is better (pure scam) , they lend you 10 million what happens when you fail bay them back at the time agreed on you bay 100 million and it doesn't stop there the more you delay them the bigger the amount you have to bay later.
sure the interest is *haram*
real question does this bank applys sharia law at it's policy I don't think tho
Interest is there but in another name
Labour export
Islamic banks have zero interest rates because this is forbidden in Islam. Wherever Islamic banks operate without interest.
That money is going to be eaten by those on top, it will never benefit those on bottom, theyre going to buy houses in Switzerland etc
Not for all Africa only unganda, so stop calling Uganda for all Africa
she is right, almost all Africa support Uganda , game is changing now we are like Jews nowadays
Thnx to the Islamic Development Bank for partnering in the quest for Uganda's development.
My country Uganda's problem is not lack of funds but rather the lack of patriotic leaders, this is like trying to collect water in a basket, no matter how much water u pour in the basket the results won't change until u change the container. Even if we swapped the entire economies 5years later Uganda will be back to where we are. Except the real issue gets addressed.
As Ugandans we shall get loans until we can’t no more.
A country still relaying on loans and grants has the capability to award all former speakers with upto date Cars, gives appreciation tokens to members of parliament sums mounting to 500 million UGX each 😢😢😢😢
We are just lead by people who think only about their selves.
Wow if only people knew what it was like to be Ugandan … that loan will do absolutely nothing like all the ones before it
Nothing will that money do instead it will be eaten by museveni's family.
So let them enjoy it
Nothing to do bro Uganda needs more prayers because this Government only God knows.
You’re all corrupt in UG always talking about M7.can’t be trusted including you. People in Uganda must change their mind set stop lies &cheating.
Well done Uganda and Saudi Arabia
I live Uganda. ISDB has done a lot in UG. Let's hope it has no strings attached. Only businesses.
Great news if accountability followed otherwise the uganda we know"corruption"😢😢
why call china "debt trap"? it is just a common sense, you borrow money for businesses (improving this and that), expect repay (all amount + interest) in 10 years stated in the agreement.
scenario A: you can pay on time, that is the best scenario.
scenario B: you can not pay on time, you ask the lender to extends, with another term.
scenario C: you failed to pay, either you pay by selling your properties or ask another lender to pay your debt with new agreement with other party.
where is the "trap" goes?? China does not fool them, incase it is fall to scenario C, that is the borrower fault due to lack of planning on spending the debt.
They does not bombard or intervene your internal matter for failing paying the debt. They does not force you to sign a unfair trade, China just a lender and following the agreement both parties decided. Nothing wrong or doing monkey business there. Everything works that way, stop calling other country transaction a "trap", It is just a non sense!
Because she's indian so she has to push an indian narrative. Indians don't like China so there's your answer. You'll never find her saying anything positive about China without a "but".
We saw what happened in srilanka !
Do you know how China got mines in Africa ?
debt trap thing came from the West to discourage countries from doing business with China, and it's a scam
That finance minister is a joke
"we" are ALL ONE. Balance is Key and LOVE is the Answer. GOD is LOVE. 🙏🕊❤🔥
Thanks for shedding light on my country
So the IMF etc loans don't lead to debt traps?
IMF is the EPITOME of debt-traps!
The difference between these loans and IMF loans , the interest rates are 300 or more . And on top of that you get their so called financial experts who don't care if you cut off medical services for the poor or orphans in group homes. That is why Blinken is in Africa every week to sell snake oil.
Islamic development bank meaning its interest free loan that's the best deal any country would wish to have big up Uganda
Every Ugandan and well wisher should make noise not to grant this loan
Those idiots are only going to buy more clothing and trips outside🤬🤬🤬🤬🤬
We will remain poor and we suffer from borrowing money from world 🌎 powers
Am sure it's a sustainable loan compared to western loans...out of the speech he gave a few days ago
This is for construction of karuma bridge and river Nile connecting moyo
We as Uganda hold a right to self determination. Regardless of what the west says or thinks😊
Road building 20% the rest 😢
We won't allow their immoral behavior in our country,we shall only work with those who respect our values.long live the pearl of Africa
Let us trust that the borrowed funds are utilized for their intended purpose.
You soudi Arabia government, that loan is not going to do what they asked for but that money is going in their pocket please people of Uganda do not have money to pay back but your loaning the few of them. And they have alot of depth from many countries but nothing helped the people.
I'm Ugandan but we borrow and the money is embezzled by a few in govt ..only taxes increase for us to pay
Oh boy, "the house of Usher" isn't going to like this! God protect Saudi Arabia!
Most of that money is going to be embezzled
Why to borrow !!Watching from Saudi Arabia God bless you all the giver,and the Reciever but!any way God Have mercy on your people mostly Uganda my home land ,so that one Day Uganda also lend than borrowimg.
I pray my Boss doesn't land on this information he decrease my monthly money to 300riyals😢
If you close this door there another one will open up because life is dynamic so instead of borrowing from WEF you can always borrow from another country
Nice to hear its not the best but its better.
They borrowed alot from lending countries and now there's no way of refunding them that's why they move to Saudi Arabia, after taking from uae 🇦🇪
Uganda is a disaster
No stable power too operate any factory
Everything over taxed
Corruption extremely high
No jobs for the people
No labor law
The government doesn't want a law labor law
Every new taxes on basic items
Like drinking water
Sugar and so on
We suffering
Shut up you know nothing about uganda.
Oky then go to Canada where they'll be taxing rainwater frm the roofs of houses.
Are you sure Uganda has no power? Btw why don't u go back to your homeland instead of suffering in Uganda
@@fredkaijuka7717lol Canada 🇨🇦
@@fredkaijuka7717 lol😀😀
Atleast i Am a Ugandan and i Know very well what Ugandans are going through here, this will end up being a curse to Ugandans as the other Loans have been, The only accountability Ugandans can get from the current government is when foreign countries put conditions on aid or loans or else the aid or loans end up being misused and the burden comes back to the lay Ugandan. so you guys don't know what your talking about.
Thanks Riyadh KSA
Kenya is getting loan when 🤔🤔😁😂
Does Islamic Bank charge interest?
No no no its forbidden interest in Islamic religion.
Put perfectly”loans without lectures” Ridiculous!!!
Great move but that's not going to work for the citizens it's going to someones poket and citizens suffer with high costs of livijg
But the usage of the loan it's worrying
We betrayed Ghadaffi who on typical moslem doctrine was willing g to loans at 1%. Let's get organized and do something.
For God and my country Uganda
For what we really don't need loans only the revenue they collect from is just enough and again which economic to boost😮
Saudi Arabia needs to work on the rights of domestic workers from Africa.
*India:* proposing _hard_ to Elon Musk and constantly 'talks' about others.
*Elon Musk:* _"let me think about it. I have 'heavy obligations' at Tesla"._
*Sunday April 28, 2024:* Musk landed in China!
Guess what the moral of the story is....
you are very right about the west lecturing a sovereign country.
We are rich enough as a Palestinian 🇵🇸❤️❤️❤️
Good job Saudi Arabia!!!
This must be a test loan then
£295 m wont go very far in terms of roads and bridges!
Freee all political prisons, Saudi Arabia stop funding Ugandans oppression 😢
O my God 😢
The Ugandans have said what they would do this, and that was, to hell with The West, and they will go to the Middle East, more wealthy Middle Eastern Countries will join and become a choice, and watch the U.S come back with a new leader in 4 to 8 yrs talking about lets be friends, The West will fall and im here for it!
We have more Indians in Uganda than Chinese
Palki Sharma forgot to mention the involvement of Crown Prince MBS!
Why does India 🇮🇳 Hindutva vishwguru doesn't lend atleast from trillions of temple charities????
Ugandans let’s not be excited that much about the Saudi Loan. It’s has been procured to repay the Chinese Maturing loans to save face. The Chinese I believe were about to reposed some of the Country’s assets.
Let’s wait.
I see no new construction project funded by that loan.
It sounds good but $290mlln can built road!!!!
Subsaharan africa must be brought out of poverty
I dont think Saudia Arabia has friendly laws towards LGBT+ people, but still enjoys good economic relations with US and world bank, why because of Petrol, so much for the DOUBLE STANDARDS, but soon things will change, countries will have their soveignity respected.
My country 😢big lier
Kerala ❤ Saudia Brothers
Uganda 🇺🇬
We need to west out of Uganda
Yes it's better that way tubawonye abazungu
Why so much borrowing by African countries?
IDB is not Saudi money only
Which Chinese loans have defaulted so far?!
Islamic bank interest rate is 0%
Saudi you will feel the heat if you have started dealing with a dictator museveni who doesn't like Moslem in uganda
😳
Oh my God Saudi stop funding dictator museveni please 🙏
Maybe India could lend to Africa as well!?!
I love your sarcasm.
Uganda and borrow borrow
Saudia❤❤❤❤❤
Tired of uganda issues..
Work on your accent Palki
Am Ugandan but these loans are borrowed on behalf of Uganda for Ugandans to pay for what they didn’t use.
Our government has accountability problems.
It goes directly to politicians packets
Exactly
Thanks god saudia is a lender. Unlike india taking aid from kenya.
Are you a Good JOKER
India is poor...some people dont have food daily....
Our slave brother poor pakistani spotted 😂
@@MIka-zg6rd What about you
I don't understand why some people hate poor countries according to a survey half of the American population don't even have 500 dollars in their savings account
Better for the World Bank, it's bad to lend or invest in broke third countries. Its time to lend or invest to global south and do much more to Eastern Europe.
Leave People Outside India. Do You Have Guts To Talk About Prajwal Revana? OR You Wont Talk About Your Boses
Uganda 🇺🇬 government it's just taking loan from everyone, including asking the citizens for loan. I pray and hope the money is used well this time
As usual palki ends up with rubbishing china.
what is Wrong in that
JOKES
@@NavinShah-nk1tv Palki is anti china we know it but india and china ending up friends is better.
And you are butthurt about Chinese Death Trap 🪤😂
@@ChandranPrema123lol where is elon musk 😂
today your are behaving like cnn propagandists
What's happened to Islam, isn't that its against Islam to lend money for profit ? I guess money first, god thereafter 😂😂😂
Narrow minded brains go and read details 😂😂😂😂😂😂😂😂😂😂
You need to get your facts right before start typing.. It's not against Islam to lend money for profitable businesses where both the lender/borrower enjoys the profits justly.. It's only forbidden to lend money on Interest or deal unjustly where the borrower is always a loser..
@@humanraceisonefamily.7944Speaking like a financial and islamic expert without knowing nothing . All Islamic banks run on interests with different name or technique. Here soudia is doing so 😂😂
Do you have a prove?? What a nonsense @@sohagsarker5303
Educate your self first
😂😂😂
Total waste it will not do anything corruption
And the LGBTQ community in uganda 🇺🇬 get their human rights taken
Palki. What happened to India? No money from India? India preaches that they are supporters of the global south. Actions speak louder than words.
Khali Wali india
INDIA has a lot to BHIKARISTAN cum PORKISTAN
Are you from BHIKARISTAN or PORKISTAN
It's a news...... d** @$* What's so b*tt hurting about it !
@@NavinShah-nk1tv Are you from MORONISTAN or IDIOTISTAN?
FIRST POST WE ARE TIRED OF UR PRIMITIVENESS AND ILLITERACY SKILLS. OF NEWS READING AND EDITING M7 IS A KILLER WHY NOT TAKE UR TIME TO DO GOOD BACKGROUND CHECK UP AS TO WORLD BANK AND IMF STOPED FUNDING
I am Ugandan but the reporter is driving a baseless narrative. The truth is Museveni has the worst human record on the continent. (Ref to documentary by Bobwine call the ghetto president.) He has mass murders since 1980 even before. People started complaining to international community and started getting sanctions. But Museveni had an idea to make the west blackmailed and look bad by introducing homosexuality bill in Parliament on addition to the one which was already in force. This was for him to drive his anger on the west which had supported him for 40 years but bse human right record they were trying to turn away.
Please before you put anything in public first Investigate the matter s .. and dictators lie a lot don’t take their information outright.
Not every Ugandan is a Bobi Wine supporter, he has no plan accept leading young people into senseless riots that get them killed and imprisoned. His plan is to expose M7 and hope European countries and America will come to his AID, don't waste people's time telling them about Bobi Wine who is ever outside Uganda most of the year.
And who put him in the power, isnt it the Western world!! I dont really like this hypocracy, the reporter is reporting the current context, but if you want to talk about records, I just told you, whatever Museveni has done in terms of human rights, the West is partially responsible and compliment
Let my country work with Arba country.