Uganda to Borrow $150 Million from China’s Exim After World Bank Halts Funding
Uganda is preparing to borrow $150 million from China’s Export Import Bank (Exim) to help expand its internet infrastructure, the finance ministry on Monday.
The move underscores the East African country’s increasing reliance for credit on Chinese lenders after the World Bank halted all new lending to Uganda earlier this year in protest at a new anti-homosexuality law.
Photo courtesy of faungg’s photos.
Source: Reuters (link opens in a new window)
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