U.S. supports GE train deal with Kazakhstan

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Wednesday, November 28, 2012

The U.S. Export-Import Bank signed a credit agreement with Kazakhstan Temir Zholy (KTZ), Kazakhstan's state-owned national railway company, and KTZ's subsidiary Joint Stock Company Lokomotiv for $425 million to support the sale of about 200 General Electric locomotives and kits to KTZ. “This transaction was initially held up because of outdated systems and processes,” Ex-Im Bank Chairman and President Fred P. Hochberg said in a statement. “That prompted us to change our way of doin...

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