Uganda’s President Yoweri Museveni has accused the World Bank of seeking “to coerce” the government over its anti-LGBT legislation.

It follows the announcement by the lender that it was suspending any new loans to the country on the grounds that the law against same-sex relations contradicts its values.

But in a statement posted on social media, President Museveni said that “Uganda will develop with or without loans”.

He said it was unfortunate that the lender was seeking to “coerce us into abandoning our faith, culture, principles and sovereignty, using money”.

“They really under-estimate all Africans. We do not need pressure from anybody to know how to solve problems in our society. They are our problems,” he added.

Mr Museveni, however, said that the country was continuing discussions with the World Bank "so that they and we avoid this diversion if possible".

President Museveni signed the anti-LGBT law in May, which imposes the death penalty for "aggravated homosexuality" and a 20-year jail term for "promoting" homosexuality.

The legislation has been condemned by Ugandan and global human rights groups. The UN, the US and other countries have also condemned the new law.

The World Bank joins the US in imposing sanctions against Uganda over the Anti-Homosexuality law.