GE's Immelt says Ex-Im bank closure would hurt US-Africa trade: FT

The Ex-Im Bank provides loans, loan guarantees and credit insurance to help private companies export goods overseas. Ex-Im will be forced to close if Congress does not renew its charter by Sept. 30. Immelt said the bank was crucial for U.S. companies operating in Africa because it showed the government was prepared to have "some skin in the game", the FT reported. On Monday, GE said it would invest $2 billion in Africa by 2018.

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