Chinese Government set to Take Over Entebbe International Airport due to Unpaid Debt.

The Chinese Government is allegedly set to take over the management of the entebbe international airport Uganda due to unpaid debt.

The airport which is the only airport of international standard in the country takes care of a rough estimate of 1.9 Million passengers per year. In 2015 , the Ugandan government signed a deal and agreement with the Chinese bank[ Exim] to borrow the sum of $207M at the rate of 2% Upon disbursement. The loan which has a maturity period of 20 years with an additional grace period of 7 years until now has not been serviced by the government, hence the transfer of the international airport and other Ugandan owned asset attached to the Chinese government .

Meanwhile,reports reveal the Chinese Government have consistently rejected all pleas by the government of Uganda to renegotiate the toxic clause attached to the signed deal. In the signed deal, the government of Uganda was said to have waived international immunity thus exposing their only international [ entebbe] airport to take over without international protection.

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