money, too.
It seems the UN sanctions have stifled a plan by Iran to give Uganda a credit in the sum of $46 million. But it is possible Iran has had second thoughts about helping an ungrateful Uganda.
The Daily Monitor of Uganda says that revelation is contained in a Foreign Affairs Ministry submission to the parliamentary Public Accounts Committee.
‘‘The ministry has followed up the implementation of this credit. However, it has faced challenges especially following the imposition of sanctions on Iran,” read the August 16 memo.
‘‘In a bid to overcome the difficulty in transferring funds to and from Iran because of sanctions, and promote investment and trade, the two countries agreed on the establishment of a bank as a joint venture as the best way forward.”
A senior official in the ministry told The Daily Monitor last week that the funds in question had been increased from $10 million to $46m following a visit by President Ahmadi-nejad to Uganda in April.
Cynics wonder whether Iran may just be making excuses and may have decided to withhold the credit. Ugandan President Yoweri Museveni has defended the right of every country to pursue nuclear technology for peaceful purposes. However, Uganda is a non-permanent member of the UN Security Council and voted in favor of the Iran sanctions in June, which may have given Islamic Republic second thoughts about the credit.
At least until June, Uganda had been increasing its ties with Tehran. After a state visit to Iran last year, President Museveni announced that Iran had agreed to assist Uganda in the construction of an oil refinery. Iran also agreed to help train Ugandans in petroleum studies.
