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Wednesday, August 6, 2014

U.S. -ANGOLA SIGN MEMORANDUM OF UNDERSTANDING TO ST TRADE

FROM:  U.S. EXPORT-IMPORT BANK 
Ex-Im Bank and Angola Sign Memorandum of Understanding To Boost U.S.-Angolan Trade

Ex-Im Bank-Angola MOU Signed During U.S.-Africa Leaders Summit in Washington, D.C.

Washington, D.C.: – The Export-Import Bank of the United States (Ex-Im Bank) has signed a memorandum of understanding (MOU) with Angola to boost job growth in both countries by strengthening collaboration on the financing of American exports to Angola.

The MOU signing between Ex-Im Bank President Fred P. Hochberg and Angola’s Minister of Finance, Mr. Armando Manuel, took place in conjunction with the U.S.-Africa Leaders Summit convened by President Barack Obama this week in Washington, D.C. The three-day summit, which has drawn heads of state and ministers from across the African continent, is designed to advance shared priorities, and strengthen ties between the United States and one of the world’s fastest-growing regions.

“Ex-Im Bank’s financing can assist Angolan buyers in purchasing almost any kind of ‘Made in the USA’ product or service to meet their needs,” said Hochberg. “And those purchases not only create jobs here in America, but contribute to job growth and an infrastructure built to last in Angola as well.”

In the MOU, Ex-Im Bank and Angola’s Ministry of Finance agreed to exchange information on trade and business opportunities to enable the procurement of U.S. goods and services by both state-owned and private-sector enterprises in Angola. The MOU identifies the following sectors for business development: energy, infrastructure, railways and roads, mining, telecommunications, agriculture, and environment, including water and sanitation projects.
Ex-Im Bank has authorized a record of more than $1.7 billion for U.S. exports to sub-Saharan Africa through the first ten months of FY 2014.

In the past five years, Ex-Im Bank has authorized more than $5 billion for U.S. exports to sub-Saharan Africa, exceeding the Bank’s authorizations of $4 billion for the region approved over the previous decade.