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China Takes Over Ugandan Airport, Other Country's Assets Over $207 million Loan Deal

Shiloh

Shiloh

Editor, Senior Moderator
Source: http://saharareporters.com/2021/11/...her-countrys-assets-over-207million-loan-deal

China Takes Over Ugandan Airport, Other Country's Assets Over $207million Loan Deal
The Museveni-led Ugandan government had on Tuesday, 17 November 2015, signed an agreement with Exim Bank to borrow $207 million at two per cent upon disbursement.
by SaharaReporters, New York Nov 26, 2021

Chinese lenders, the Export-Import Bank of China, also known as Exim Bank, has taken over the Ugandan Entebbe International Airport and other assets in the country over the failure of the Ugandan government to repay a loan.

This came despite reports that President Yoweri Museveni had sent a delegation to Beijing for a renegotiation with the Chinese government over toxic clauses that exposed the East African country...
 
It is Uganda's main airport. This can't be a good thing.


Entebbe International Airport (IATA: EBB, ICAO: HUEN) is the principal international airport of Uganda. It is located about 6 kilometres (3.7 mi) southwest of the town of Entebbe, on the northern shores of Lake Victoria.[SUP][5][/SUP] This is approximately 40 kilometres (25 mi) by road south-west of the central business district of Kampala, the capital and largest city of Uganda.[SUP][6][/SUP]

It is the only international airport of Uganda. The headquarters of the Civil Aviation Authority of Uganda have been relocated to a new block off the airport highway (Entebbe–Kampala Expressway and Tunnel Road), but adjacent to the airport terminals.[SUP][7][/SUP]

https://en.wikipedia.org/wiki/Entebbe_International_Airport
 
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