China to Take Over Uganda's International Airport Entebbe Over Unpaid Loans.

China Takes Over Uganda's International Airport, Other Country's Assets Over $207million Unpaid Loan Deal

The Museveni-led Ugandan government had on Tuesday, 17 November 2015, signed an agreement with Exim Bank to borrow $207 million at two per cent upon disbursement.

Uganda's only international airport has been taken over by China.

According to Sahara Reporters, Chinese lenders, the Export-Import Bank of China, also known as Exim Bank took over the Ugandan Entebbe International Airport and other assets in the country over the failure of the Ugandan government to repay a loan.

This came despite reports that President Yoweri Museveni had sent a delegation to Beijing for a renegotiation with the Chinese government over toxic clauses that exposed the East African country.

The loan had a maturity period of 20 years including a seven-year grace period, but it had now appeared that the transaction signed with the Chinese lenders practically means Uganda “surrendered” its most prominent and only international airport.

The Uganda Civil Aviation Authority (UCAA) revealed some provisions in the Financing Agreement with China that exposed Entebbe International Airport and other Ugandan assets to be attached and taken over by Chinese lenders upon negotiation in Beijing.

Uganda, however, sought to renegotiate the deal but the latest visits and pleas to alter the original terms with Chinese authorities were declined.

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

In desperation, Uganda in March 2021 sent a delegation to Beijing hoping to renegotiate the toxic clauses of the deal but the officials came back empty-handed as China would not allow the terms of the original deal to be varied.

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.

Progress of works at the airport, built in 1972, has reached 75.2 per cent, with two runways having reached overall completion of 100 per cent.

Entebbe International Airport is Uganda’s only international airport and handles over 1.9 million passengers per year. Its seizure by China would greatly dent the legacy of the 77-year-old Museveni, who came to power on the back of an armed uprising in 1986, and expose him to election defeat.

Comments

We Bring You Brief Series of Sanctions Against Uganda Government Officials.

📸: Gen Abel Kandiho. On 9-December-2021, USA slapped sanctions against the then CMI Commander Gen Abel Kandiho. 📸: Gen Kale Kayihura. On 9-December-2022, UK slapped sanctions against former Police Boss Gen Kale Kayihura. 📸: Commissioner General of Prisons, Johnson Byabashaija. Again on this 4-December-2023, the same USA has slapped sanctions against Uganda Prisons Commander Johnson Byabashaija over alleged torture and human rights abuses in Prisons across Uganda. We ask, has USA and UK made December as an LCM to slap sanctions against high ranking government officials in Uganda even when the sanctions just remain on paper without deeper investigations to ascertain logical conclusions or remedy to that effect ?. #iip_updates #Information_is_Power #we_inform_the_uninformed

How to Host a Website for Free From Your PC or Laptop.

Why pay for a web hosting service when your old computer can do the same thing? Learn how to self-host your site. If you're planning to launch a website but don't want to pay recurring monthly or annual hosting fees, you can use any old laptop or desktop PC to host a website for free. It's a great way to utilize your old system instead of throwing it away. In this guide, we will install and set up services on our 10-year-old laptop to host a WordPress, Joomla, or custom HTML or PHP-based website with a free SSL certificate. MAKEUSEOF VIDEO OF THE DAY Things You Will Need to Host a Website Following are the pre-requisites to host a website for free from home with just your computer: An old laptop or PC running Ubuntu Server. A registered domain name for your website Ethernet cable to connect the laptop or PC to router for reliable and fast connection Step 1: Update and Upgrade the Packages After installing Ubuntu Server on your computer , execute the following c...

WHERE IS MINISTER OF SEX SIMON LOKODO?. (He deserves a battle of soda from me! Ministe`r esalanga mabee. He is quick to run after Mrs Dr Stella Nyanzi and other Opposition elements. Government aza aza edo zuu vaa kpere bua). Anyway, below is the article! POLICE OFFICER AKOL ESTHER CHARGED OF BEING A PUBLIC NUISANCE Naughty Officer Officer who embarrassed police after leaking nude photo charged 13.03.2018 She serves in the 'Very Important Persons Protection Unit' Akol Esther (Courtesy) A female police officer whose nude photo surfaced on social media has been charged of being a public nuisance. Akol Esther serves in the Very Important Persons Protection Unit (VIPPU) of the police force. Kampala Metropolitan Police spokesperson Luke Owoyesigire says Akol Esther might be demoted or expelled from the police force if found guilty of circulating nude photos. Police court is yet to announce date when Akol Esther is expected to appear for a hearing. This comes at a time when Pornography Control Committee is taking tough measures against persons circulating pornography content. The committee warned and promised to arrest persons who will circulate pornographic content.

POLICE OFFICER AKOL ESTHER CHARGED OF BEING A PUBLIC NUISANCE Naughty Officer Officer who embarrassed police after leaking nude photo charged 13.03.2018 She serves in the 'Very Important Persons Protection Unit' Akol Esther (Courtesy) A female police officer whose nude photo surfaced on social media has been charged of being a public nuisance. Akol Esther serves in the Very Important Persons Protection Unit (VIPPU) of the police force. Kampala Metropolitan Police spokesperson Luke Owoyesigire says Akol Esther might be demoted or expelled from the police force if found guilty of circulating nude photos . Police court is yet to announce date when Akol Esther is expected to appear for a hearing. This comes at a time when Pornography Control Committee is taking tough measures against persons circulating pornography content. The committee warned and promised to arrest persons who will circulate pornographic content.

Osuta Yusuf

Search This Blog