CHINA DEAD TRAPS IN AFRICA

CHINA DEAD TRAPS IN AFRICA: THE POSSIBILITY OF UGANDA TO SURROUNDER ITS ONLY INTERNATIONAL AIRPORT TO CHINA IS LOOMING

According to unconfirmed sources, there is a possibility that Chinese lenders who loaned the Ugandan government $200 million to expand Entebbe International Airport a couple of years ago will seize control of the airport. This is a glaring example to show that China's purpose in Africa is not to foster development but to make business. According to the Citizen, a media outlet in Uganda "Top Ugandan officials have been boxed into a corner of bother after lenders in China rejected their request to re-negotiate ‘toxic clauses’ in the $200m (Shs713b) loan picked six years ago to expand Entebbe International Airport. Some of the unfavorable provisions in the loan agreement that Uganda signed with the Export-Import (Exim) Bank of China on March 31, 2015, if not amended, expose Uganda’s sovereign assets to attachments and take-over upon arbitration awards in Beijing". Read more here

Last edited: 2021-11-26

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