• Latest
  • Trending
Uganda Risks Losing Only International Airport Over Chinese Loan

Uganda Risks Losing Only International Airport Over Chinese Loan

Tinubu’s Minister Nnaji Admits Certificate Forgery

Tinubu’s Minister Nnaji Admits Certificate Forgery

What you need to Know about ‘New deadly’ Lakurawa Group Terrorising Nigeria’s Northwest

27 Killed as Bandits Strike Again in Kogi Communities

‘Watch Your Tongue’: Onoh knocks Jonathan Over Boko Haram Remark

‘Watch Your Tongue’: Onoh knocks Jonathan Over Boko Haram Remark

JUST IN: Tinubu’s Minister Nnaji Involved in Certificate Scandal

JUST IN: Tinubu’s Minister Nnaji Involved in Certificate Scandal

Zamfara LG Chairman Sparks Buzz After Sharing Phones, Power Banks to Youths (Video)

Zamfara LG Chairman Sparks Buzz After Sharing Phones, Power Banks to Youths (Video)

Jonathan Clarifies Linking Buhari to Boko Haram Crisis Claims

Jonathan Clarifies Linking Buhari to Boko Haram Crisis Claims

Fresh Graduate Gunned Down by Stray Bullet After Collecting NYSC Call-Up

Fresh Graduate Gunned Down by Stray Bullet After Collecting NYSC Call-Up

Sunday, October 5, 2025
  • Login
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
iDeemlawful
No Result
View All Result
iDeemlawful
No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
Home Featured
Uganda Risks Losing Only International Airport Over Chinese Loan

Uganda Risks Losing Only International Airport Over Chinese Loan

by iDeemlawful
November 26, 2021
in Featured
A A
0

Uganda is on the verge of losing it’s only international airport, the Entebbe International Airport, to China after a debt agreement with the Asian country expired on November 17.

The Ugandan government had, on November 17, 2015, signed an agreement with Export-Import Bank of China (Exim Bank) to borrow $207 million at two per cent upon disbursement, with a maturity period of 20 years including a seven-year grace period.

And with a failure to pay back the loan, it has emerged that the deal signed with the Chinese lenders virtually means Uganda will surrender its most prominent and only international airport.

SeeThese

FULL LIST: 42 Countries Eligible to Enter China Without Visa

Woman sues IVF Clinic after giving birth to Non-Biological Baby

Libya deports More Nigerians [Pictures]

A statement on Friday by the Uganda Civil Aviation Authority (UCAA), says “some provisions in the Financing Agreement with China exposed the Entebbe International Airport and other Ugandan assets to be attached and taken over by Chinese lenders upon arbitration in Beijing.”

ADVERTISEMENT

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

A discrete investigation carried out by a media outfit into the deal has also revealed that the Ugandan government had waived international immunity in the agreement it signed to secure the loans, exposing the Entebbe International Airport to take over without international protection.

“The Ugandan government had, in March, 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 apologized to parliament for the mishandling of the $207 million loan from the China Exim Bank to expand Entebbe International Airport,” the report said.

Tags: China governmentChina loanFlatNewsUganda
Previous Post

[Breaking] Court Declares Bandits As Terrorists

Next Post

Murder of OAU student: Declare Raheem Adedoyin wanted, Lawyer tells police |

Next Read

Four Conditions before Tinubu reinstates Fubara
Featured

BREAKING: Court Throws Out Rivers Emergency Rule Suit Against Tinubu

...

Read moreDetails
18 Key Highlights from Tinubu’s 65th Independence Day Speech
Breaking News

18 Key Highlights from Tinubu’s 65th Independence Day Speech

...

Read moreDetails
El Salvador President Skips UNGA, Calls Summit “Pointless Waste of Time”
Featured

El Salvador President Skips UNGA, Calls Summit “Pointless Waste of Time”

...

Read moreDetails
Ex-Oyo Governor Ladoja Crowned 44th Olubadan
Breaking News

Ex-Oyo Governor Ladoja Crowned 44th Olubadan

...

Read moreDetails
Netanyahu Blasts West Over Palestine Recognition
Featured

Netanyahu Dodges Europe, reroutes flight to UN over ICC fears

...

Read moreDetails
BREAKING: UK, Canada, Australia Recognise Palestine
Featured

BREAKING: UK, Canada, Australia Recognise Palestine

...

Read moreDetails
JUST IN: Ibas Bows Out, Hands Rivers Back to Fubara
Featured

JUST IN: Ibas Bows Out, Hands Rivers Back to Fubara

...

Read moreDetails
BREAKING: Tinubu Lifts Rivers Emergency Rule
Featured

BREAKING: Tinubu Lifts Rivers Emergency Rule

...

Read moreDetails
Next Post
Murder of OAU student: Declare Raheem Adedoyin wanted, Lawyer tells police |

Murder of OAU student: Declare Raheem Adedoyin wanted, Lawyer tells police |

Declaration of bandits as terrorists won’t change anything – Gumi |

Declaration of bandits as terrorists won’t change anything – Gumi |

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

iDeemlawful

Copyright © 2019 iDeemlawful.

Useful Links

  • About
  • Advertise
  • Editorial
  • Support

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Copyright © 2019 iDeemlawful.