Export-Import (EXIM) Bank of US today said it had approved a $2-billion loan guarantee to Air India for buying Boeing aircraft. “We approved the loan guarantee last month,” said EXIM Bank of US Member Dianne G Farrell here.
The loan guarantee is for the purchase of aircraft from Boeing, she said.
The loan is being given by J P Morgan Chase, she said, but refused to give further details about the Boeing and Air India deal.
The bank is charging 2 per cent interest rate for the loan guarantee, she added.
Meanwhile, the EXIM Bank and the Confederation of Indian Industry (CII) signed an agreement for increasing the trade of goods and services between their respective countries. The Washington-based bank was established with the mandate to aid in financing of credit-worthy entities to facilitate the export of goods and services of US origin.
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