he Export-Import Bank of the United States (Ex-Im Bank) announced today that it has pre-approved 11 Indonesian banks to receive expedited financing under a $1 billion bank facility to support U.S. exports to Indonesia.
The 11 Indonesian banks are Indonesia Eximbank, Bank Mandiri, Bank Negara Indonesia, Bank Rakyat Indonesia, Bank Central Asia, Bank Danamon, Panin Bank, Bank CIMB-Niaga, Bank OCBC Indonesia, Bank International Indonesia and Bank UOB Buana.
Ex-Im Bank Chairman and President Fred P. Hochberg announced the new bank facility today at a meeting with Indonesia's Coordinating Ministry in Jakarta.
"With its diverse and growing economy, Indonesia offers great opportunities for U.S. exporters in many sectors. This bank facility will enable Indonesian companies to access Ex-Im Bank-backed financing from their local banks and help Ex-Im Bank approve these transactions more quickly," Hochberg said.
"We anticipate that this bank facility will be very attractive to borrowers because of the currently low rates and the fixed-interest rate options," he added.
The bank facility will support U.S. exports to Indonesia on short, medium and long repayment terms. Both public-sector and private-sector borrowers are eligible.
Applications for Ex-Im Bank financing involving the 11 Indonesian banks can be approved by Ex-Im Bank's board of directors and senior officials through an expedited process because each bank has been pre-approved for credit up to an established limit per bank. Total financing under the facility could reach more than $1 billion.
Ex-Im Bank, an independent, self-sustaining federal-government agency, exists to fill gaps in export financing, strengthen U.S. export competitiveness, and create and maintain U.S. jobs. The Bank provides a variety of financing mechanisms, including working capital guarantees to help small and medium-sized U.S. businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.
In fiscal 2009, overall Ex-Im Bank financing totaled $21 billion, and authorizations supporting small-business exports reached a historic high of $4.4 billion, nearly 21 percent of total authorizations.
Ex-Im Bank authorized $279.5 million for U.S. exports to Indonesia in fiscal 2009, including financing for Sikorsky helicopters to P.T. Travira Air.
In fiscal 2009 and 2010, Ex-Im Bank has authorized almost $1 billion in financing to support the export of up to 30 Boeing 737-8000ER aircraft with CFM International aircraft engines to Lion Air, a private-sector airline in Indonesia.
In the first seven months of 2010, the Bank authorized nearly $15.2 billion in loans, guarantees and insurance – more than twice the amount authorized in the same period in fiscal 2009. For more information, see Ex-Im Bank's Web site at www.exim.gov.
SOURCE Export-Import Bank of the United States
US EXPORT COUNCIL PROVIDES ASSISTANCE TO US COMPANIES SEEKING ACCESS TO HIGH GROWTH MARKETS OVERSEAS. http://usexportcouncil.com/
Showing posts with label exim bank. Show all posts
Showing posts with label exim bank. Show all posts
Friday, June 18, 2010
Friday, June 4, 2010
U.S. MANUFACTURERS TO SUPPLY FIREFIGHTING VEHICLES FOR EXPORT TO GHANA WITH EX-IM BANK BACKING
U.S. companies, including four subsidiaries of Oshkosh Corp., headquartered in Oshkosh, Wis., will supply 121 customized firefighting vehicles and related equipment for export to the Republic of Ghana, backed by a $41 million loan guarantee from the Export-Import Bank of the United States (Ex-Im Bank).
The U.S. exporter is Project Development International Inc. (PDI), a small and specialized project-management company in Dunedin, Fla.
"This deal demonstrates the solid business opportunities for U.S. exporters in sub-Saharan Africa that Ex-Im Bank can help them achieve. This large export to Ghana will help maintain American jobs at these companies and expand their market share in Africa," said Ex-Im Bank Chairman and President Fred P. Hochberg.
"The support from Ex-Im Bank was like wind under our wings during the years of development of this project. We value Ex-Im Bank's expertise and the exceptionally long repayment terms for the loan that were essential to this successful sale of quality U.S.-made firefighting equipment," PDI President James Lalumiere said.
Four Oshkosh-owned companies are participating in the export. Pierce Manufacturing Inc. in Appleton, Wis., will supply 90 pumper trucks, 10 tanker trucks and four aerial ladder trucks. Jerr-Dan Corp. in Greencastle, Pa., will supply 13 recovery trucks. Iowa Mold Tooling Co. Inc. in Garner, Iowa, is providing four service vehicles and spare parts. Oshkosh Specialty Vehicles Inc. in Harvey, Ill., is supplying four mobile breathing air compressors.
Two U.S. sub-suppliers are also participating. Bauer Compressors Inc. in Norfolk, Va., is supplying high-pressure breathing air equipment to Oshkosh Specialty Vehicles. Smeal Fire & Apparatus Co., a small business in Snyder, Neb., is providing the turntable ladders for the four Pierce aerial ladder trucks.
The export will help Oshkosh maintain employment of its highly skilled workforce in the wake of the recession of 2008-2009 that is continuing to affect domestic orders due to lagging local and state tax revenues.
"We are appreciative of the Export-Import Bank's strong support which is the first step in making this order a reality. Oshkosh looks forward to delivering 120 vehicles from four of our businesses and continued growth throughout Africa," said Tim Raupp, Oshkosh Corporation senior vice president and executive director of International Operations for Fire and Emergency.
The transaction is being financed by an Ex-Im Bank-guaranteed loan from Societe Generale in New York, N.Y. The repayment term is eight years. The credit is secured by the full faith and credit of the Republic of Ghana through its Ministry of Finance and Economic Planning.
The Ghana National Fire Service will purchase the equipment through Ghana's Ministry of Interior Service. The exports will replace existing vehicles, add new equipment for urban fire fighting and help the agency in its planned expansion of fire stations.
The principal supplier, Pierce Manufacturing Inc., was established in 1913 and has manufactured firefighting trucks and related vehicles since the 1940s. The company currently employs approximately 2,250 workers at its production facilities in Appleton, Wis., and in Bradenton, Fla.
Oshkosh Corp. designs and builds a broad range of specialty trucks, truck bodies and access equipment. Oshkosh has a workforce of more than 12,600 employees at its headquarters in Oshkosh, Wis., manufacturing operations in 11 different states and operations around the world.
PDI is a project management company established in 1980 for U.S. and international construction industries. In the last decade, the company has diversified into all aspects of planning, scheduling, and material and equipment procurement.
Ex-Im Bank, an independent, self-sustaining federal-government agency, exists to fill gaps in export financing, strengthen U.S. export competitiveness, and create and maintain U.S. jobs. The Bank provides a variety of financing mechanisms, including working capital guarantees to help small and medium-sized U.S. businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.
In fiscal 2009, overall Ex-Im Bank financing totaled $21 billion, and authorizations supporting small-business exports reached a historic high of $4.4 billion, nearly 21 percent of total authorizations. Ex-Im Bank authorized $412 million, including working capital guarantees, for U.S. exports to sub-Saharan Africa in fiscal 2009.
In the first eight months of fiscal 2010 (through April 2010), Ex-Im Bank authorized $14.7 billion in loans, guarantees and insurance - 70 percent of the total amount authorized in fiscal 2009. For more information, see Ex-Im Bank's Web site at www.exim.gov.
US EXPORT COUNCIL PROVIDES ASSISTANCE TO US COMPANIES SEEKING ACCESS TO HIGH GROWTH MARKETS OVERSEAS. http://usexportcouncil.com/
The U.S. exporter is Project Development International Inc. (PDI), a small and specialized project-management company in Dunedin, Fla.
"This deal demonstrates the solid business opportunities for U.S. exporters in sub-Saharan Africa that Ex-Im Bank can help them achieve. This large export to Ghana will help maintain American jobs at these companies and expand their market share in Africa," said Ex-Im Bank Chairman and President Fred P. Hochberg.
"The support from Ex-Im Bank was like wind under our wings during the years of development of this project. We value Ex-Im Bank's expertise and the exceptionally long repayment terms for the loan that were essential to this successful sale of quality U.S.-made firefighting equipment," PDI President James Lalumiere said.
Four Oshkosh-owned companies are participating in the export. Pierce Manufacturing Inc. in Appleton, Wis., will supply 90 pumper trucks, 10 tanker trucks and four aerial ladder trucks. Jerr-Dan Corp. in Greencastle, Pa., will supply 13 recovery trucks. Iowa Mold Tooling Co. Inc. in Garner, Iowa, is providing four service vehicles and spare parts. Oshkosh Specialty Vehicles Inc. in Harvey, Ill., is supplying four mobile breathing air compressors.
Two U.S. sub-suppliers are also participating. Bauer Compressors Inc. in Norfolk, Va., is supplying high-pressure breathing air equipment to Oshkosh Specialty Vehicles. Smeal Fire & Apparatus Co., a small business in Snyder, Neb., is providing the turntable ladders for the four Pierce aerial ladder trucks.
The export will help Oshkosh maintain employment of its highly skilled workforce in the wake of the recession of 2008-2009 that is continuing to affect domestic orders due to lagging local and state tax revenues.
"We are appreciative of the Export-Import Bank's strong support which is the first step in making this order a reality. Oshkosh looks forward to delivering 120 vehicles from four of our businesses and continued growth throughout Africa," said Tim Raupp, Oshkosh Corporation senior vice president and executive director of International Operations for Fire and Emergency.
The transaction is being financed by an Ex-Im Bank-guaranteed loan from Societe Generale in New York, N.Y. The repayment term is eight years. The credit is secured by the full faith and credit of the Republic of Ghana through its Ministry of Finance and Economic Planning.
The Ghana National Fire Service will purchase the equipment through Ghana's Ministry of Interior Service. The exports will replace existing vehicles, add new equipment for urban fire fighting and help the agency in its planned expansion of fire stations.
The principal supplier, Pierce Manufacturing Inc., was established in 1913 and has manufactured firefighting trucks and related vehicles since the 1940s. The company currently employs approximately 2,250 workers at its production facilities in Appleton, Wis., and in Bradenton, Fla.
Oshkosh Corp. designs and builds a broad range of specialty trucks, truck bodies and access equipment. Oshkosh has a workforce of more than 12,600 employees at its headquarters in Oshkosh, Wis., manufacturing operations in 11 different states and operations around the world.
PDI is a project management company established in 1980 for U.S. and international construction industries. In the last decade, the company has diversified into all aspects of planning, scheduling, and material and equipment procurement.
Ex-Im Bank, an independent, self-sustaining federal-government agency, exists to fill gaps in export financing, strengthen U.S. export competitiveness, and create and maintain U.S. jobs. The Bank provides a variety of financing mechanisms, including working capital guarantees to help small and medium-sized U.S. businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.
In fiscal 2009, overall Ex-Im Bank financing totaled $21 billion, and authorizations supporting small-business exports reached a historic high of $4.4 billion, nearly 21 percent of total authorizations. Ex-Im Bank authorized $412 million, including working capital guarantees, for U.S. exports to sub-Saharan Africa in fiscal 2009.
In the first eight months of fiscal 2010 (through April 2010), Ex-Im Bank authorized $14.7 billion in loans, guarantees and insurance - 70 percent of the total amount authorized in fiscal 2009. For more information, see Ex-Im Bank's Web site at www.exim.gov.
US EXPORT COUNCIL PROVIDES ASSISTANCE TO US COMPANIES SEEKING ACCESS TO HIGH GROWTH MARKETS OVERSEAS. http://usexportcouncil.com/
Wednesday, November 4, 2009
Export-Import Bank Adopts Carbon Policy to Encourage Renewable Energy and Climate-Friendly Technologies
Washington, D.C. - The Export-Import Bank of the United States (Ex-Im Bank) today became the first Export Credit Agency (ECA) to adopt a comprehensive Carbon Policy to guide its support of United States exports in light of climate change concerns.
"We want to help American manufacturers produce green technology for the world. This common sense approach is good for the environment. It's good for business, and it's good for American workers," said Fred P. Hochberg, chairman and president of Ex-Im Bank.
The Carbon Policy is in keeping with the Obama Administration's commitment to help create new jobs through promotion of "green" technology.
"We look forward to working with the Export-Import Bank on implementation of their Carbon Policy," said Nancy Sutley, Chair of the White House Council on Environmental Quality. "The Board's approval of their Carbon Policy is an important step toward greater transparency and enhanced environmental stewardship."
Included in the policy is a commitment to explore ways to further improve the Bank's transparency in the tracking and reporting of CO2 emissions from projects that it supports.
As a part of this policy the Bank has established for the first time a $250 million facility to finance renewable energy exports, including solar, wind and geothermal energy.
The policy also commits the Bank to be a leader in financing of climate-friendly technologies made by American workers, including those that reduce greenhouse gas emissions and increase energy efficiency.
Ex-Im Bank also committed to advocate in the Organization for Economic Cooperation and Development (OECD) for the creation of financing incentives for low to zero CO2-emitting projects, a common methodology for evaluating and taking into account the social cost of carbon, and disincentives for high intensity fossil fuel projects. The Bank initiated its efforts involving the OECD within hours of the Carbon Policy's approval.
"Adoption of the Bank's new Carbon Policy is an important first step. As we move forward in the coming weeks we are committed to an open process to help us implement this policy by continuing to actively engage American exporters, workers and environmental advocates," Hochberg said.
The full text of the Board's Carbon Policy is available on the Ex-Im Bank website, www.exim.gov.
In October 1998 the Bank was the first ECA to track greenhouse gas emissions of projects for which it provided financing. It was also the first to publically disclose those figures.
Ex-Im Bank has historically been a leader in evaluating the environmental consequences of the projects for which it provides financing. The Bank has had environmental procedures in effect since 1993 and has been an international leader in this arena. It has vigorously promoted the adoption of common environmental standards by other export credit agencies through its activities in the OECD.
In Fiscal Year 2009, which ended September 30, the Bank authorized more than $21 billion in support of U.S. exports and associated jobs, the highest financing level since the Bank was established in 1934. The Bank also set a record for financing of U.S. small business exports at $4.36 billion.
Ex-Im Bank is the official export-credit agency of the United States. The independent, self-sustaining federal agency, now in its 75th year, helps to create and maintain U.S. jobs by financing the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export-credit insurance and direct loans.
Original URL: http://www.exim.gov/pressrelease.cfmBC0AA512-EF10-91BF-A6F1508E016C9E5E/
Export-Import Bank of the United States
811 Vermont Avenue, N.W.
Washington, DC 20571
Tel: 1 (202) 565-3946 (EXIM) or 1 (800) 565-3946 (EXIM)
Monday, June 8, 2009
Export-Import Bank’s New Africa Pilot Program
The U.S. Export-Import Bank’s Sub-Saharan African Advisory Committee is crafting a pilot project aimed at boosting U.S. exports to the region by offering more competitive financing in line with what is being provided by China and other countries. The U.S. Export-Import Bank’s Sub-Saharan African Advisory Committee is crafting a pilot project aimed at boosting US exports to the region by offering more competitive financing in line with what is being provided by China and other countries (WTD, 5/29/09).
The advisory panel outlined the new initiative at a meeting yesterday. It hopes to have a final proposal ready to take to Ex-Im’s board of directors for approval - and present it to Congressional lawmakers - in September. The initiative calls on the Bank to provide more financing for projects involving products containing up to 49 percent foreign content and match support being provided by non-Organization for Economic Cooperation and Development countries - primarily China. The initiative is aimed at both boosting U.S. exports to Sub-Saharan Africa and making Ex-Im more competitive in the region.
Specifically the proposal outlined yesterday would focus on four areas -
• Competitive Foreign Content Rules - allow 85 percent Ex-Im support for projects as long as there is at least 51 percent US content;
• Enhanced Financing Terms - use the Bank’s “war chest” to match support being offered by the export credit agencies of non-OECD countries and offer
extended 20-year repayment terms for more types of projects;
• Credit Underwriting - expand the Bank’s Special Delegated Authority program for Nigeria to other countries - like Kenya, Senegal and possibly Ghana - and
create the position of senior underwriter for Sub-Saharan Africa and
• Program Champion - designate either an Ex-Im board member or representative of the chairman’s office to oversee the program and lobby Congress.
Boosting U.S. exports to sub-Saharan Africa is one of the biggest priorities for the Bank, new Chairman Fred Hochberg told the advisory panel. U.S. trade with Sub-Saharan Africa fell by 50 percent in the first quarter of 2009 compared to the same period last year - a victim of the global economic crisis, according to Commerce Department data presented to the committee. However, the Bank expects to do about $800 million in financing to Africa this year, up from $575 million last year.
US EXPORT COUNCIL PROVIDES ASSISTANCE TO US COMPANIES SEEKING ACCESS TO HIGH GROWTH MARKETS OVERSEAS. http://usexportcouncil.com/
The advisory panel outlined the new initiative at a meeting yesterday. It hopes to have a final proposal ready to take to Ex-Im’s board of directors for approval - and present it to Congressional lawmakers - in September. The initiative calls on the Bank to provide more financing for projects involving products containing up to 49 percent foreign content and match support being provided by non-Organization for Economic Cooperation and Development countries - primarily China. The initiative is aimed at both boosting U.S. exports to Sub-Saharan Africa and making Ex-Im more competitive in the region.
Specifically the proposal outlined yesterday would focus on four areas -
• Competitive Foreign Content Rules - allow 85 percent Ex-Im support for projects as long as there is at least 51 percent US content;
• Enhanced Financing Terms - use the Bank’s “war chest” to match support being offered by the export credit agencies of non-OECD countries and offer
extended 20-year repayment terms for more types of projects;
• Credit Underwriting - expand the Bank’s Special Delegated Authority program for Nigeria to other countries - like Kenya, Senegal and possibly Ghana - and
create the position of senior underwriter for Sub-Saharan Africa and
• Program Champion - designate either an Ex-Im board member or representative of the chairman’s office to oversee the program and lobby Congress.
Boosting U.S. exports to sub-Saharan Africa is one of the biggest priorities for the Bank, new Chairman Fred Hochberg told the advisory panel. U.S. trade with Sub-Saharan Africa fell by 50 percent in the first quarter of 2009 compared to the same period last year - a victim of the global economic crisis, according to Commerce Department data presented to the committee. However, the Bank expects to do about $800 million in financing to Africa this year, up from $575 million last year.
US EXPORT COUNCIL PROVIDES ASSISTANCE TO US COMPANIES SEEKING ACCESS TO HIGH GROWTH MARKETS OVERSEAS. http://usexportcouncil.com/
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