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Investing.com -- The Export-Import Bank of the United States (EXIM) Board of Directors approved a transaction worth nearly $297 million to export Boeing (NYSE:BA) aircraft and spare propulsion equipment to Angola.
The final commitment will support TAAG Angola Airlines in acquiring Boeing 787-10 passenger aircraft and General Electric (NYSE:GE) Aerospace spare engines.
Acting President and Chairman James Cruse emphasized the transaction’s impact on U.S. employment, stating, "With nearly 1,400 jobs supported across the United States through this transaction, EXIM continues to fulfill its mandate to support jobs through exports."
Cruse added that the approval supports U.S. economic security while strengthening Angola’s economy through these aircraft and engine exports.
The deal is expected to create approximately 1,400 jobs across South Carolina, Ohio, and throughout the United States within both Boeing and General Electric Aerospace supply chains.
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