The sharp rise in the cost of loans is attributed to the shift from concessional financing to more expensive and short-term commercial debt.
Museveni accused the bank of emphasising profit-driven agendas and prioritising loans for seminars at the expense of Africa's development.
In the draft "Nairobi IDA Communique" to be deliberated upon, African leaders will outline urgent priorities for IDA's upcoming three-year funding cycle.
In a new report, the Institute of Public Finance (IPF) says that despite cutting budgets to control government spending, high public debt service costs still put the country on the brink of debt distress.
Kenya took the top position on the continent but the $800 million - 28 per cent of the total raised by the continent - was a 25 per cent drop from what was raised in 2022.