Uganda's President Yoweri Museveni has accused the World Bank of "coercion" over the country's controversial anti-gay legislation.
His comments followed an announcement by the US-based global lender on Tuesday that it was suspending new loans to the East African country over an anti-gay law.
The World Bank said that the law contradicts its values and that no new public financing would be presented to its board of directors for approval for the time being.
But Museveni, who signed the measures into law in May, posted on X, the former Twitter, that "Ugandans will develop with or without loans".
"It is therefore unfortunate that the World Bank and other actors dare to want to coerce us into abandoning our faith, culture, principles and sovereignty, using money," the leader said.
"We do not need pressure from anybody to know how to solve problems in our society."
Museveni nevertheless said Uganda was continuing discussions with the World Bank "so that they and we avoid this diversion if possible".
Uganda's Information Minister Chris Baryomunsi confirmed to AFP news agency on Wednesday that consultations were ongoing with the World Bank.
"However, the World Bank and others should be reminded that Uganda is a sovereign country, which takes decisions in the interests of her people."
Uganda plans to start pumping crude oil in 2025 from fields in the country's west near the border with Democratic Republic of Congo, hoping that will boost economic growth further to more than 7%.
