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.
Either plotting to retake the throne of Scotland or having one of his advisors for lunch.
Some Bidens and Clintons have made pretty good money selling to the ChiComs.
Thanks for the info.
Added bonus: once he got there, he told the base commander that to forgive him for not introducing himself beforehand as his ministry was just down the road. The base commander says “Oh we know who you are father”
priest: “That’s odd as I dont remember coming here before”
base commander: “we know everything that goes on 1000 miles around”.
He then offered the GI’s Sunday mass which they went to religiously afterwards.
Dates back to the Spanish American war and William Gorgas and Walter Reed. Gorgas later worked in the Canal Zone.
Dangit, I rely on Entebbe airport for all my flying-into-Uganda needs.
Years ago, I caught a staph infection in Yemen. Darned near killed me, kept feeding me all kinds of meds for about 3 years, very little help. Then gave me a new family of sulpha meds, immediate relief, full recovery about a year later.
Yet my Dad had skin lesions from WW2, Pac. theater for the rest of his life, no cure.
Yes...they dole out billions and billions of bucks to these places to modernize their infrastructure. Of course that isn’t done just for charity...
This is the not so secret ulterior plan for the Chicom “belt and road” strategy. Loan out a heap of money to third world countries that have terrible track records of handling money responsibly, then when the loans inevitably don’t get repaid, show up and take over industry and businesses.
I won’t say it’s too much different than what America did over the years, but usually we straight up bought off politicians and generals with our foreign aid rather than pretended we were acting like a banking partner for ports and airports.
Maybe someone will do some research to see how many villas the President and others purchased in Dubai, Paris, London, or a handful of other European cities. Trying to get banking info from the Swiss, the Caymans or Liechtenstein will be futile.
It’s now there’s. Or more accurately, they have complete control over it. They can move anything and everything they want in and out of it.
How a sovereign country allows that is beyond me, but I’m sure there are some folks with some fat bank accounts, nice new homes and are finalizing their escape plans.
They basically own/operate the major shipping port in Sri Lanka, after the politicians took the same debt trap and gave it to them.
Ya, seriously, why do you suppose Biden put a stop to our tapping the ANWAR oil reserves? His bosses in China likely told him not to deplete their assets.
They can try.
The Chinese had access to a mine somewhere in one of the ‘Stans. Chinese mining company came in, promised jobs, brought in Chinese slaves and didn’t hire any of the locals.
Locals revolted, ran off the Chinese and took over the mine. I believe in Kyrgyzstan.
If Uganda tells the Chinese to leave, there isn’t a whole lot the Chinese can do other than send in the military. That would not be good for China. I don’t see them doing that no matter how hard people think they are.
One that could be destroyed quickly if the locals decided to.
The leaders of these countries make these deals knowing there’s no way to pay the money back. They launder/steal what they can and then leave. Off to Dubai or Europe, while the people eat rocks.
If Ugandans show up with some Dishka mounted, Hi-Lux’s, the Chinese won’t be there long.
machetes vs nukes =
we take it and you don’t scream
as much as I’d love to do that. If we give them an unfettered beachhead, we’re done for. Need to keep them from easily making landfall to move supplies.
“Too late now. Sorry is not near good enough.
We want your firstborn, ahh, I mean we want your only airport and we want it now!”
That'll be the day.
The Ugandan government will station a half dozen men with shoulder fired RPGs, just outside the fence, at each end of the main runway - then ask the Chinese to renegotiate.
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