The country of Uganda in East Africa reportedly handed over its assets to China at Entebbe International Airport. This is because the country has failed to pay its debt to the Bamboo Curtain Country.
The Ugandan government has secured a US$207 million loan from China’s Exim Bank to expand Entebbe International Airport. The loan has a term of 20 years including a grace period of seven years. The payment of the debt faltered because it was reported that the airport was in crisis.
In fact, many countries are dealing with debt with China to build infrastructure, including Indonesia. So, what are the projects in Indonesia financed by China? Here’s the list:
1. Jatigede Reservoir
The project, which was initiated since the era of President Soekarno, began to flow water in 2015. The water inundation event was inaugurated by the Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono.
“I was assigned by President Jokowi to inaugurate the inundation today,” he said at the Jatigede Dam, Sumedang, West Java, Monday (31/8/2015).
The construction of the Jatigede dam project has an investment value of Rp 4 trillion through state budget funds and a 90 percent loan from China Exim Bank.
2. Medan-Kualanamu Toll Road
This 17.8 km toll road costs Rp 1.347 trillion. Of the total construction of Rp 1.347 trillion, 90% of which came from Chinese loans through China’s Exim Bank and 10% from the state budget.
The construction of this toll road began in 2012. The construction of this toll road was inaugurated by the Minister of Public Works, Djoko Kirmanto.
“The construction contract was actually signed in December 2011, I hope it can start early in the year. In fact, we can only do it today. Since we started late, I don’t want to waste time so we don’t finish late,” said Djoko in his remarks at the ground. breaking the Medan-Kualanamu Toll Road in Batang Kuis, Deli Serdang Regency, Wednesday (7/11/2012).
Furthermore, China’s debt is for the cost of the Jakarta-Bandung high-speed rail project. Just click on the next page.