The US Export-Import Bank said it would provide more than $100m in financing to Kenya Airways to purchase a passenger aircraft and a spare engine.
“The Export-Import Bank has a very successful relationship with Kenya Airways, and we view this historic transaction as a sign of our strong commitment to supporting US exports to sub-Saharan Africa,” bank chairman Philip Merrill said.
Kenya Airways took delivery of the Boeing 777-200ER last Friday (May 21), the bank said. It is the first of three Boeing 777s Kenya Airways has ordered.
The Export-Import Bank provides loan guarantees, export credit insurance and direct loans for companies primarily in emerging markets.
Source: Dow Jones Business News
