Chinese bank takes over Uganda's only international airport

6 months ago 3322

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By Africanews

Last updated: 1 hour ago

Uganda

Chinese lenders have rejected Uganda's request to re-negotiate a toxic clause in the 207 million dollars loan used to expand the airport in the capital.

Uganda has defaulted on debt repayment triggering a take over from lender Export-Import Bank from China.

The loan was contracted in november 2015 and at the time the Ugandan government waived international immunity exposing it to take over without international protection.

Entebbe International Airport is Uganda’s only international airport and handles over 1.9 million passengers per year.

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