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Uganda To Lose Only Int’l Airport To China Over Debt

November 26, 2021
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    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

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    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

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    Rommy Ezeonwuka, Igbo, Nigeria Hero Of Our Time

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    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

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    Rommy Ezeonwuka, Igbo, Nigeria Hero Of Our Time

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    Simon Ekpa Reportedly Arrested By Finnish Police

    Simon Ekpa Reportedly Arrested By Finnish Police

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra’s Ezechukwuchiri Winner Of U18 High Jump  At World School Athletics Trials

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    (video)Close Gap: Anambra Gov’t Determined To Make 1,000 Millionaires Yearly—Aghamba

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    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

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    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

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    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

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    (video)Close Gap: Anambra Gov’t Determined To Make 1,000 Millionaires Yearly—Aghamba

  • Sports
    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

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    Rommy Ezeonwuka, Igbo, Nigeria Hero Of Our Time

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    Simon Ekpa Reportedly Arrested By Finnish Police

    Simon Ekpa Reportedly Arrested By Finnish Police

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra’s Ezechukwuchiri Winner Of U18 High Jump  At World School Athletics Trials

    Anambra’s Ezechukwuchiri Winner Of U18 High Jump  At World School Athletics Trials

    Anambra targets Empower 130,000 Youths For Apprenticeship Programme

    (video)Close Gap: Anambra Gov’t Determined To Make 1,000 Millionaires Yearly—Aghamba

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    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

    Rommy Ezeonwuka, Igbo, Nigeria Hero Of Our Time

    Rommy Ezeonwuka, Igbo, Nigeria Hero Of Our Time

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    Simon Ekpa Reportedly Arrested By Finnish Police

    Simon Ekpa Reportedly Arrested By Finnish Police

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra’s Ezechukwuchiri Winner Of U18 High Jump  At World School Athletics Trials

    Anambra’s Ezechukwuchiri Winner Of U18 High Jump  At World School Athletics Trials

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    (video)Close Gap: Anambra Gov’t Determined To Make 1,000 Millionaires Yearly—Aghamba

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    2023:  Arthur Eze Reiterates Support For Atiku-Okowa Ticket

  • Politics
    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

    Rommy Ezeonwuka, Igbo, Nigeria Hero Of Our Time

    Rommy Ezeonwuka, Igbo, Nigeria Hero Of Our Time

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    Simon Ekpa Reportedly Arrested By Finnish Police

    Simon Ekpa Reportedly Arrested By Finnish Police

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra’s Ezechukwuchiri Winner Of U18 High Jump  At World School Athletics Trials

    Anambra’s Ezechukwuchiri Winner Of U18 High Jump  At World School Athletics Trials

    Anambra targets Empower 130,000 Youths For Apprenticeship Programme

    (video)Close Gap: Anambra Gov’t Determined To Make 1,000 Millionaires Yearly—Aghamba

  • Entertainment
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    Anambra Govt Lifts Suspension on Wintess Hotel 

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    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

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    Rommy Ezeonwuka, Igbo, Nigeria Hero Of Our Time

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

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    Simon Ekpa Reportedly Arrested By Finnish Police

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

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    (video)Close Gap: Anambra Gov’t Determined To Make 1,000 Millionaires Yearly—Aghamba

  • Sports
    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Anambra: CP Adeoye Assures Of Peaceful Poll, Warns Trouble Makers To Steer Clear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

    Enekwe, LP Chieftain Urges Nigerians To Vote Without Fear

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    Rommy Ezeonwuka, Igbo, Nigeria Hero Of Our Time

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    (Video)Imo: No Elections In All 11 Wards of Orsu LGA – PDP Tells INEC

    Simon Ekpa Reportedly Arrested By Finnish Police

    Simon Ekpa Reportedly Arrested By Finnish Police

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Pope Francis Creates Catholic Diocese of Aguleri, Appoints Bishop Isizoh 1st  Bishop

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra Gov’t To Partner Private Facility Investors…Commission Boss

    Anambra’s Ezechukwuchiri Winner Of U18 High Jump  At World School Athletics Trials

    Anambra’s Ezechukwuchiri Winner Of U18 High Jump  At World School Athletics Trials

    Anambra targets Empower 130,000 Youths For Apprenticeship Programme

    (video)Close Gap: Anambra Gov’t Determined To Make 1,000 Millionaires Yearly—Aghamba

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Uganda To Lose Only Int’l Airport To China Over Debt

by News Monitor
November 26, 2021
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Uganda To Lose Only Int’l Airport To China Over Debt

The Ugandan government has lost its major airport to China for failing to repay a loan.

The government has failed to reverse a loan agreement with the Chinese which had repayment conditions of attaching its only airport.

Entebbe International Airport and other Ugandan assets were attached and agreed to be taken over by Chinese lenders upon arbitration of the loan.

According to reports, President Yoweri Museveni had sent a delegation to Beijing hoping to renegotiate the toxic clauses.  

The visit was unsuccessful as China authorities refused to allow any alteration in the original terms of the deal.

The Uganda government, represented by the finance ministry and the Civil Aviation Authority at the time, had on 17 November 2015, signed an agreement with Export-Import Bank of China (Exim Bank) to borrow U$207 million at two per cent upon disbursement; with a maturity period of 20 years including a seven-year grace period.

The deal signed with the Chinese lenders virtually means Uganda “surrendered” its most prominent airport to China.

The Uganda Civil Aviation Authority (UCAA) said some provisions in the Financing Agreement expose Entebbe International Airport and other Ugandan assets to be attached and taken over by Chinese lenders upon arbitration in Beijing.

China has rejected pleas by Uganda to renegotiate the toxic clauses of the 2015 loan, leaving Ugandan President Yoweri Museveni’s administration in limbo.

According to the Daily Monitor of Uganda, the Ugandan government waived international immunity in the agreements it signed to secure the loans, exposing Entebbe International Airport to take over without international protection.

Last week, Uganda’s Finance Minister Matia Kasaija apologised to parliament for the “mishandling of the $207 million loan” from the China Exim Bank to expand Entebbe International Airport.

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