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ECONOMY-FINANCE

Confusion In Uganda As China Takes Over Entebbe Airport After Museveni's Govt. Failed To Repay Loan

Uganda Civil Aviation Authority says if not amended, some provisions in Financing Agreement for the loan the country obtained to expand Entebbe International Airport, expose the airport and other government assets to potential attachments and take-over by China upon arbitration awards in Beijing. Top Ugandan officials have been boxed into a corner of bother after lenders in China rejected their request to re-negotiate ‘toxic clauses’ in the $200m (Shs713b) loan picked six years ago to expand Entebbe International Airport.

  2 months ago ago
Confusion In Uganda As China Takes Over Entebbe Airport After Museveni's Govt. Failed To Repay Loan