Ex-Im Bank Authorizes $130 Million To Finance Export of U.S.-Manufactured Aircraft and Engines to Ethiopian Airlines
June 27, 2013
(Ex-Im Bank)
Ex-Im Bank Chairman Fred P. Hochberg Announces Financing in Addis Ababa Today
Addis Ababa, Ethiopia – The Export-Import Bank of the United States (Ex-Im Bank)
has authorized nearly $130 million in financing to support the export of Boeing
long-range aircraft and installed GE-90 engines to Ethiopian Airlines.
The transaction will support an estimated 700 American jobs in the aircraft and
aircraft-engine manufacturing industry, according to an Ex-Im Bank estimate
derived from U.S. Departments of Commerce and Labor data and methodology.
Ex-Im Bank Chairman Fred P. Hochberg announced the transaction today in Addis
Ababa. Hochberg is in Ethiopia conducting meetings with government and business
leaders as part of a week-long business development trip to India, Ethiopia and
South Africa.
"Ex-Im Bank is pleased to add another transaction in our successful partnership
with Ethiopian Airlines, which is supporting hundreds of jobs in the U.S.
aerospace industry. This transaction also demonstrates the tremendous potential
of Africa for U.S. exporters," said Ex-Im Bank Chairman Fred P. Hochberg. "Our
financing of high-quality, 'Made in the USA' aircraft and engines is also
helping Ethiopian Airlines continue to expand its service throughout Africa and
beyond the continent."
From 2003 through 2013, Ex-Im Bank has approved more than $2.2 billion to
finance exports of U.S.-manufactured aircraft and aircraft engines to Ethiopian
Airlines. In May 2012, Ex-Im Bank authorized financing to support 10 Boeing 787
Dreamliner aircraft to Ethiopian Airlines. Four of the aircraft were funded
through a capital-markets bond issuance in November 2012.
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