Uganda’s Finance Ministry has unveiled intentions to secure a $150 million loan from China’s Exim bank aimed at bolstering the country’s internet infrastructure.
Presented by Uganda’s ICT minister and a junior finance minister to the parliamentary committee on national economy, this move underscores Uganda’s increasing dependence on Chinese funding.
This reliance has escalated following the World Bank’s suspension of funding in response to Uganda’s adoption of a controversial anti-homosexuality law earlier in August.
Previously, Uganda had acquired a contentious $200 million loan from the Chinese bank for the expansion of Entebbe International Airport.
Criticized for its potentially exploitative terms, this loan drew scrutiny from various quarters.
Additionally, Uganda is engaged in negotiations with the Chinese export credit agency Sinosure for a loan to support a $5 billion pipeline project aimed at exporting crude oil to Tanzania.
Source-BBC
