Canada’s export credit agency, Export Development Canada (EDC), has agreed to provide Angola with a $US 429.5 million loan to finance the purchase of 100 locomotives from General Electric (GE), according to an authorization granted by presidential order.
The order authorises the state to borrow from the Canadian state agency, diversifying the sources of funding for the purchase of the locomotives.
The contract was secured by GE from AEnergia to supply 100 C30ACi locomotives to Angolan National Railways (INCFA) to boost railfreight services in the country.