Uganda government has been boxed into a corner of bother after lenders in China rejected their request to re-negotiate ‘toxic clauses’ in a $200m loan picked six years ago
The loan was to expand the country's only International Airport and now is at risk of losing it including other government assets Uganda Civil Aviation Authority has expressed worry that some clauses in the loan give China control of the country's assets.
Uganda, an East African country is on the verge of losing its only International Airport and other government assets to China over a loan it secured in 2015.
Local media reports that China 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.