New Delhi: China has gone a step further in the matter of acquiring foreign assets due to non-payment of debt. It is being said that China has allegedly taken possession of Uganda Entebbe International Airport and other properties in the East African country.
In view of this, Ugandan President Yoweri Museveni sent a delegation to Beijing for re-negotiations with the Chinese government. Recently, the Museveni-led government signed an agreement with the Exim Bank of China to borrow $ 207 million for the expansion of Entebbe International Airport.
The loan repayment limit was 20 years
According to SaharaReporters.com, a news portal related to African news, the maturity period of the loan was 20 years including a grace period of 7 years, but now it seems that the Exim Bank of China The signed transaction means that Uganda has ‘handed over’ its only international airport.
However, Uganda tried to renegotiate the deal, but without success. In March 2021, Uganda sent a delegation to Beijing in the hope of renegotiating the terms of the deal.
Entebbe Airport Uganda’s only international airport
According to a report by another portal Allafrica.com, “After the mystery was uncovered that the Ugandan government signed an agreement and waived exemptions for the use of its sovereign assets with others, it was the first of those investigations. raises questions at the levels that bureaucrats do before making any deal at the international level.” Entebbe International Airport is the only international airport in Uganda and handles over 19 million passengers per year.
In many countries, including some African countries… After failing to repay commercial loans signed in haste or without proper investigation, China has confiscated their national assets by direct control.