Canada cancels loan to South Africa's Gupta family for Bombardier jet purchase

Canada cancels loan to South Africa's Gupta family for Bombardier jet purchase
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Canada’s trade financing agency Export Development Canada (EDC) said on Thursday it has scrapped a deal to help finance the sale of a Bombardier jet to the wealthy Gupta family, in South Africa.

The Guptas failed to meet loan repayment obligations in recent weeks and, with the EDC assessing a "political exposure" risk, it terminated the loan which allowed Canada’s Bombardier to sell a Global 6000 jet to them, the Globe and Mail had reported earlier.



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