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What message does the Chinese takeover of Uganda’s Entebbe Airport send to us?

December 25, 2021
Source: tekedia.com tekedia.com
News Snapshot:
On Tuesday, 17th November 2015, the Ugandan government signed an agreement with the Chinese Export and Import Bank(Exim Bank) to borrow $207 million. The loan had a maturity period of 20 years. Now the country is about to lose one of its strategic assets, it’s only International airport, to the Chinese government. Was this a debt trap? Certainly one would conclude so. For a country like Uganda whose GDP as of 2015 was just above $32 million, China definitely would have predicted that the country would not be able to attest for such a sum of cash over time. But...
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Tags: Africa | agreement | airport | Aviation | bank | BRI | capital | cash | China | Chinese | Economy | export | Exports | government | health | import | international | IT | loan | Malaysia | Maldives | medicine | Pakistan | technology | Uganda

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