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.
...
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.
I’d say we’re even due to their massive theft of intellectual property.
The chicoms now have a secure Air Force foothold in central eastern Africa to go along with their facilities and ports in Kenya...
.........for the chinese, it would be hard to think of a worse investment than 207 million in the Entebbe, Uganda Airport. The country is listed at # 100 in GNP vs all 213 countries on the list.
I’m sure there are a lot of natural resources they could try and steal but China would spend as much fighting for them as they would profit from them.
It was never a loan. It was a purchase, but only the Chinese knew it. I was at the airport one time checking out the bullet holes in the terminal and airliners, while at the same time Europeans were being murdered in Kampala 20 miles away. It’s a shame because Uganda is such a beautiful place and the people are lovely. But for every Able there’s a Cain. Men are easily corrupted. Love of money is the worst vice, because with it, you can buy all the others. The upside to all this would be, that if the Chinese go in big, they will wipe out the Islamic Terrorists in short order. Sorry Rashida.
Who saw something like this happening? LOL
WE have US bases there but discreet.
Interesting story: our area priest for our Knights of Columbus branch was a missionary priest from Africa and came back stateside after many years there..
Told us around 2013 or so, his village was hit by a disease not known to science (maybe covid who knows). The idiot UN guys were useless but when he went to US base for help (being a US citizen helps). They gave him vaccines.
Now how did the US military know which specific disease it was? They just handed it to him for free. Fast forward, he still doesnt know what it was and the village was inoculated. Until now, he doesnt know what’s in those vials but it saved many lives in his parish.
Wait until things like this hit the USA.
Unexpected...
Scary scene when sinister Chinese guys in dark glasses and holster bulges under their suits came in to deliver the news.
And the loss of the airport will put a crimp in the usual tourist surges. Buses can arrive from Congo and Kenya.
Note this item in Britannica:
The population is African, with small minorities of Europeans. The Asian minority was largely expelled in 1972 upon orders from Idi Amin, Uganda’s president at the time.
Entebbe has noted botanical gardens, a veterinary research laboratory, and a virus research institute. Basically a residential centre for government employees, the city has no industry.
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“Virus research laboratory.” Odd.
Scary scene when sinister Chinese guys in dark glasses and holster bulges under their suits came in to deliver the news.
And the loss of the airport will put a crimp in the usual tourist surges. Buses can arrive from Congo and Kenya.
Note this item in Britannica:
The population is African, with small minorities of Europeans. The Asian minority was largely expelled in 1972 upon orders from Idi Amin, Uganda’s president at the time.
Entebbe has noted botanical gardens, a veterinary research laboratory, and a virus research institute. Basically a residential centre for government employees, the city has no industry.
...................
“Virus research laboratory.” Odd.
That’s what I was going to post!
Can probably pick up another airbase in Afghanistan ... cheap...
Because they are generally nice.
China don't play dat.
Google Earth. It would be interesting to see.
It’s gangsta.
only if I get refugee status. I am a persecuted minority here. I am a conservative populist with a libertarian streak.
governments can confiscate and nationalize... There is no such thing as colterol for a loan when it’s a government taking the loan. this will eventually be what happen in Africa
They’ve never had to pay a dime for the Covid-19 they were responsible for. That’s truly the elephant in the room.
Doesn’t surprise me. U.S. Army has long had an interest in tropical medicine. Dates back at least to WW2 and Stillwell in Burma. When I was in Panama there was a research group there unpacking and researching things Stillwell’s medical staff had collected 50 years earlier.
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