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. ...
The Uganda Civil Aviation Authority (UCAA) revealed some provisions in the Financing Agreement with China that exposed Entebbe International Airport and other Ugandan assets to be attached and taken over by Chinese lenders upon negotiation in Beijing.
Uganda, however, sought to renegotiate the deal but the latest visits and pleas to alter the original terms with Chinese authorities were declined. ...
Full story at Sahara ReportersAngela Ramirez
@coangelaramirez
New: The #CCP has just taken over an International Airport in Uganda as a form of payment for default on a debt.
This comes after their large purchase of a cobalt mine (which was purchased from the U.S.) in the Congo
11:17 AM · Nov 27, 2021
Tanzania Updates
@TanzaniaUpdates
China to take over Uganda’s Entebbe International Airport for default on debt repayment. China has rejected Uganda's request to re-negotiate toxic clauses in the $200m loan picked six years ago for the Airport expansion. The Airport is the only Intl Airport in the country.
3:40 AM · Nov 26, 2021