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Final December, the Every day Monitor in Uganda unleashed a firestorm with an article claiming that the Entebbe Worldwide Airport was in peril of being seized as collateral for an unpaid Chinese language mortgage. The story was poorly-sourced and ill-informed (for instance, the mortgage in query wasn’t out of its grace interval, so there was no query of default.) But, the story garnered widespread consideration all over the world, not least in an equally shoddy Trevor Noah insert that took the so-called seizure as proof of Chinese language debt-trap diplomacy.
This week, the analysis physique AidData introduced that they’d obtained a full, unredacted model of the Entebbe Airport mortgage contract. Of their report they level out that the contract by no means allowed the lender (China Exim Financial institution) to grab the airport. Nonetheless, it was a really powerful contract nonetheless, demanding that the Ugandan authorities keep a money deposit in an escrow account to be seized by the lender within the case of a default.
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