Uganda: World Bank pulls out of privatisation

Uganda's divestiture programmes have suffered a setback after the World Bank declined to extend its technical support to the Privatisation Unit. The Bank cites political interference, lack of transparency and the sluggish pace of disposal of public assets as the reasons for its decision. The World Bank said last month it would not extend the facility, which lapsed at the end of 2005. The Privatisation Unit officials say they may not be able to finance the areas the World Bank has been funding at international level, but add that they can seek local funding alternatives.