Uganda’s Finance Minister Matia Kasaija apologized to parliament last week for the mishandling of the $207 million loan from the China Exim Bank to expand Entebbe International Airport.
“I apologize that we shouldn’t have accepted some of the clauses,” Kasaija told members of the committee in response to the question over the interest rate that was set by the China Exim Bank for the funds placed in an off-shore Standard Bank account that was used as collateral for the project.
- Get a daily email packed with the latest China-Africa news and analysis.
- Read exclusive insights on the key trends shaping China-Africa relations.
- Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.