NEWSRAEL: Why this matters: China, in the last 2 decades has been engaging in large-scale "loan and build" agreements around the world, but heavily in Africa in which they extend loans to the country and then build a sea port, an airport or other large facility knowing full-well that the country will not be able to repay the loan. Many times, one of the main parts of the "loan" is that the country gives up the right to litigate in a court of law.

The bottom line, China is enacting a new type of "Economic Colonialism" as in the case with Uganda.

"India Today" reports today that Uganda has lost its only international airport, the Entebbe International Airport, to China for failing to repay a loan, African media reported.

The government has failed to reverse a loan agreement with China which had repayment conditions for attaching its only airport.

In 2015, China’s Export-Import (EXIM) Bank lent Uganda $207 million at two per cent upon disbursement. The loan, meant for the expansion of Entebbe airport, came with a maturity period of 20 years including a seven-year grace period, News X reported.

However, as per international media reports, the Ugandan government waived off the clause for international immunity for securing the loan, following which the Chinese lender can retake possession of Entebbe International Airport without any international arbitration.