{{The Export Import (Ex-Im) Bank of the US has agreed to finance a deal worth US$1bn between GE and the government of Angola to purchase railway and energy equipment.}}<\/p>\n
The US-based lender will help GE with funds to rebuild Angola’s transport, electricity and communication networks, which were destroyed by war in 2002.<\/p>\n
The loans from Ex-Im Bank will include US$350mn for locomotives and US$650mn for power equipment. This deal is part of the Power Africa initiative, where the Ex-Im Bank is set to provide US$5bn for private investments across the continent, said Reuters.<\/p>\n
The IMF said Angola’s US$122bn economy is set to grow by 5.3 per cent this year, and then by 5.5 per cent and 5.9 per cent in the next two years. <\/p>\n
Angola’s crude oil production alone contributes to 95 per cent of the nation’s revenue and the Ex-Im Bank hopes to help diversify its economy by boosting other sectors.<\/p>\n
Jose Eduard Dos Santos, president of Angola, has given the Finace Ministry the \u201cgreen light to move forward\u201d with the deal after meeting with Ex-Im Bank officials.<\/p>\n
The US has always maintained good business relations with Angola. Oil companies like Exxon and Chevron have a solid presence in the country but the US is keen to expand these relations into other parts of Angola’s economy.<\/p>\n
Ex-Im Bank has previously financed a US$600mn deal for TAAG Angola Airlines, the state-owned carrier of the country, to buy aircraft from The Boeing Company, according to a BA Analyst Report.<\/p>\n
africanreview<\/p>\n","protected":false},"excerpt":{"rendered":"
{{The Export Import (Ex-Im) Bank of the US has agreed to finance a deal worth US$1bn between GE and the government of Angola to purchase railway and energy equipment.}} The US-based lender will help GE with funds to rebuild Angola’s transport, electricity and communication networks, which were destroyed by war in 2002. The loans from […]<\/p>\n","protected":false},"author":2,"featured_media":2000052613,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[100],"byline":[170],"hashtag":[],"class_list":["post-14890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-africa","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000052613,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14890.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14890.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14890.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14890.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14890.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14890.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/14890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=14890"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/14890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000052613"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=14890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=14890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=14890"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=14890"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=14890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}