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Kusile gives Ex-Im record year in Africa
27 May 2011
Final US Ex-Im board approval of a direct loan for Eskom’s Kusile power project has almost doubled the bank’s previous yearly record for financing in Africa.
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With the granting of final approval by the board of directors of the Export-Import Bank of the United States (US Ex-Im Bank), the direct loan of $805.6 million to South Africa's state-owned electric power utility, Eskom, has pushed the bank’s financing total for the current fiscal year to over $1 billion for the first time.
The new record total to date of $1.5 billion is nearly double the previous one year record of $812 million set in the previous fiscal year ending September 30, 2010.
In addition to the Eskom facility for the Kusile power project, approval was also granted for over $59 million to enable Rwanda's RwandAir Express to buy Boeing aircraft.
Also contributing to this year's record support for sub-Saharan Africa...
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