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November 24th , 2024

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Umar Farouk

2 years ago

UGANDA LOSES ITS ONLY INTERNATIONAL AIRPORT TO CHINA; CHINA TURNS DOWN NEGOTIATIONS

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The country's only international airport, according to Uganda's Civil Aviation Authority, is vulnerable to a Chinese takeover if clauses in a funding deal between the two nations are not changed.

The Ugandan government secured a $200 million (€177 million) credit agreement with China's Exim-Bank in 2015 to enlarge Entebbe International Airport.

Uganda, on the other hand, is said to have waived international immunity in the contract.

The Chinese are able to take charge of the airport without any protection internationally. 

Ministers in the government have been chastised over the loan agreement. 

The Finance Minister Matia Kasaija apologized last week to parliament for the "mishandling" of the loan.

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