Posted on 11/28/2021 6:01:07 PM PST by george76
Uganda lost its only international airport, the Entebbe International Airport, to China for failing to repay a loan,..
The government has failed to reverse a loan agreement with China which had repayment conditions for attaching its only airport.
In 2015, China’s Export-Import (EXIM) Bank lent Uganda $207 million at two per cent upon disbursement. The loan, meant for the expansion of Entebbe airport, came with a maturity period of 20 years including a seven-year grace period, News X reported.
However, as per international media reports, the Ugandan government waived off the clause for international immunity for securing the loan, following which the Chinese lender can retake possession of Entebbe International Airport without any international arbitration.
A statement from the Uganda Civil Aviation Authority (UCAA) reportedly suggested that some provisions in the Financing Agreement with China exposed Entebbe International Airport and other Ugandan assets to be attached and taken over by Chinese lenders upon arbitration in Beijing.
Last week, Ugandan Finance Minister Matia Kasaija had apologised to Parliament for “mishandling” the multi-million dollar loan.
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According to the latest media reports, a delegation of Ugandan officials also visited China earlier this year in an attempt to renegotiate the clauses of the loan agreement. However, the visit was unsuccessful as the Chinese authorities refused to allow any alteration in the original terms of the deal.
” in their campaign to diminish the prestige and influence of the British monarchy. “
The monarchy is evil.
All they really need is the airport. Stick a bunch of military planes there with some troops. Then start buying politicians until the government demands that China run the country. Then the real fun starts.
No chance they can prevail in Africa.
Raid On Entebbe Part Deux
That depends on how greedy they get. But it will shut up the critics of Colonialism.
CCP sure seems to love bilking African countries with recent histories of indiscriminate massacres. Gonna hit the jackpot someday.
Last time I was on a Caribbean cruise (3 yrs ago) I was surprised how much China influence exists down there. So many Chinese produced vehicles, construction equip, etc.
Not more evil than the Red Chinese, though.
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