Uganda Paying Back $1.4bn Chinese Loan for Incomplete Dam

Uganda Paying Back $1.4bn Chinese Loan for Incomplete Dam
Uganda Paying Back $1.4bn Chinese Loan for Incomplete Dam

Uganda is reported to have started paying back a $1.44bn loan to China. This is quite safening because the flagship 600MW Karuma hydropower project that the government is paying for is not finished. Researchers have said that Uganda is responsible for the mess it finds itself enmeshed in right now.

This hydropower dam, the Karuma hydroelectric power dam, situated on River Nile, sits 270 miles north of the capital city Kampala.

READ MORE: Alarming Signs as Global Food Import Bill Rising to Nearly US$2 Trillion Owing to Higher Prices

This 600MW project is, hyperbolically, a symbol of the China-Uganda partnership, which is yet to bear any fruits.

Such simingly phantom, white-elephant projects are very commonplace across the continent of Africa, and this has become a very worrisome development to come to terms with in recent times.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

five × three =