Israeli power attracts US Ex-Im support
USEx-Im Bank has approved a final commitment for a US$51.5mn long-term guarantee supporting the US$48.6mn export by General Electric Co, Inc of two electric generators and turbine accessories for two separate power plants in Israel. The guarantee also covers financing fees and project-related costs in the buyer’s country. The buyer, government-owned Israel Electric Corp (IEC), Haifa, will use the equipment to increase capacity in the Alon Tabor and Eshkol power plants. The guaranteed lender is BNP Paribas, New York. The primary source of repayment is IEC.
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