Click to join: BLOGPAY CHANNEL

China is about to take over the only remarkable international airport in Uganda over failure to pay $207 million loan. In 2015, 17th November to be precise, the Uganda government Yoweri Museveni signed an agreement with Exim Bank to be loaned $207 million to expand Entebbe International Airport, the only international airport in the country. The government was to pay back the money in 20 years time with a grace period of seven years.Apparently, the Uganda government couldn't adhere to the agreement that was signed with the Chinese officials. The agreement that was signed shows that Uganda gave away their only international airport. The Uganda government tried to negotiate the deal again to make some changes but the Chinese officials turned down their request. Well, last week the Minister of Finance of Uganda, Matia Rasaija issued an apology to Parliament for misusing the money given to them by the Exim Bank but as it stands now Uganda is about to surrender its only remarkable international airport and other country's assets to the China for going against $207 million loan deal.