Showing posts with label ETHIOPIA. Show all posts
Showing posts with label ETHIOPIA. Show all posts

Thursday, August 16, 2012

EXPORT-IMPORT BANK AND AIRCRAFT EXPORTS TO ETHIOPIA

MAP CREDIT: U.S. State Department
FROM: U.S. EXPORT-IMPORT BANK
First Ex-Im Bank-Supported 787 Aircraft Delivered to Ethiopian Airlines

Washington, D.C. – The delivery of the first Export-Import Bank of the United States-supported Boeing 787 Dreamliner to Ethiopian Airlines was celebrated at a ribbon-cutting ceremony in the main terminal of Washington Dulles International Airport here today.


Earlier in May, the Bank approved a loan guarantee of more than $1 billion to Ethiopian Airlines for the export of a new fleet of Boeing 787 Dreamliners. The transaction, which was co-financed by Nippon Export and Investment Insurance (NEXI), also supported the export of G.E. spare engines.


"This aircraft is an example of the kind of American innovation that sets us apart and will drive our export competitiveness in the manufacturing sector," said Patricia M. Loui, director of Ex-Im Bank. "These themes are central to the President's National Export Initiative."


The Boeing 787 aircraft is the first of its kind to be delivered to any airline outside of Japan, and it is the first one to be financed by Ex-Im Bank.


"At Ex-Im Bank," continued Loui, "we look for opportunities that will meet the objectives of President Obama’s Presidential Policy Directive on Africa, which includes stimulating economic growth, trade, and investment in Africa. Ex-Im Bank financing support for Ethiopian Airlines’ Boeing 787 aircraft is helping to achieve these important objectives."


Ex-Im Bank has worked with Ethiopian Airlines since 2002 to support its ongoing fleet renewal and expansion program.


"Ex-Im Bank's reliable and consistent support for Ethiopian Airlines' acquisition of state-of-the-art Boeing aircraft, including our first Boeing 787 Dreamliner, has been an important factor in the successful implementation of our growth strategy. Ethiopian Airlines is proud of being a good client of Ex-Im Bank, and we intend to maintain such a win-win partnership between our two organizations forever," said Kassim Geresu, chief financial officer of Ethiopian Airlines.


Ex-Im Bank authorized a record $1.4 billion to support U.S. export sales to buyers in Sub-Saharan Africa in FY 2011, and the Bank has already topped last year’s figures with $1.5 billion in the first three quarters of FY 2012.

Saturday, August 11, 2012

U.S. EXPORT-IMPORT BANK APPROVES $1.5 BILLION TO HELP U.S. EXPORTS TO AFRICA

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Bank Approves Record $1.5 Billion in Financing of U.S. Exports to Sub-Saharan Africa in First Three Quarters of FY 2012


Ex-Im Bank Expands Cover Policy in Cameroon, Ethiopia, Tanzania and Angola
 
WASHINGTON, D.C. – In the first three quarters of FY 2012, the Export-Import Bank of the United States (Ex-Im Bank) approved a historic $1.5 billion in financing to support U.S. exports to sub-Saharan Africa, surpassing the previous record of $1.4 billion for the entire year in FY 2011.


The increase was driven by export growth in several sectors, including machinery, vehicles and parts, commodities and aircraft. Two of the top markets for U.S. exports in the region are South Africa and Nigeria, which are among Ex-Im Bank’s nine key country markets.


"Proportionately, Ex-Im Bank supports more U.S. exports to sub-Saharan Africa than it does to the world at large. Last year, we financed 6.7 percent of U.S. exports to this region. With this new record in sub-Saharan authorizations already achieved in FY 2011, we are on target to increase that percentage," said Ex-Im Bank Chairman and President Fred P. Hochberg.


"Sub-Saharan Africa is a priority region because many countries have strong prospects for long-term economic growth and infrastructure development. We want to help more U.S. exporters increase their sales to this emerging region," he added.


In 2012, Ex-Im Bank expanded its cover policies in four sub-Saharan African countries: Cameroon (opened for long-term in the public sector), Ethiopia (opened for short-term and medium-term in both the public and private sectors), Tanzania (opened for long-term in the public sector) and Angola (opened for long-term in the private sector). The cover policies changes were approved by the Bank’s board of directors, following upon country-risk upgrades determined through an interagency country-risk review process.


Ex-Im Bank Chairman Hochberg, Vice Chair Wanda Felton and Bank staff conducted a business-development mission in sub-Saharan Africa from August 6 – 10, visiting South Africa and Mozambique. The trip included participation in the U.S.-South Africa Strategic Dialogue with U.S. Secretary of State Hillary Rodham Clinton in Pretoria on August 7.


On August 7, Chairman Hochberg signed a Declaration of Intent with the Industrial Development Corp. of South Africa Ltd. (IDC), indicating Ex-Im Bank’s interest in financing up to $2 billion of U.S. technologies, products and services to South Africa’s energy sector, with an emphasis on clean-energy technologies.


Recent Ex-Im Bank success stories in sub-Saharan Africa:

In April, Ex-Im Bank authorized a $37.2 million loan guarantee to support the export of U.S. road-construction equipment and related services by Hoffman International Inc. in Piscataway, N.J., to the Republic of Cameroon. Ex-Im Bank is guaranteeing a medium-term loan from Societe Generale in New York, N.Y., to Cameroon’s Ministry of Economy, Planning and Regional Development. The financing will support the purchase of 150 new and used machines produced by U.S. manufacturers that include Mack Trucks Inc., Terex Corp., Caterpillar Inc. and Grove US LLC.


In June, Ex-Im Bank approved a $7 million loan guarantee supporting the export of dredging equipment and spare parts from Dredging Supply Co., in Reserve. La., to Japaul Oil and Maritime Services PLC in Port Harcourt, Nigeria. Ex-Im Bank is guaranteeing a medium-term loan from RB International Finance (USA) LLC in Bethel, Conn., to Japaul Oil and Maritime Services for the purchase of the equipment. The foreign buyer’s primary business is oil and maritime services in the upstream segment of Nigeria’s oil and gas industry.


The U.S. exporter, Dredging Supply Co., specializes in manufacturing custom-designed, portable dredges for a variety of uses. The company has a total of approximately 125 employees at its facilities in Reserve, La.; Poplarville, Miss.; Greenbush, Mich.; and Stoneboro, Pa.


About Ex-Im Bank:

Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.


Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country.

Friday, July 6, 2012

U.S. AFRICA COMMANDER UNDERSTANDS HUMANITARIAN SITUATION


Photo:  Gen. Carter F. Ham.  Credit:  U.S. DOD. 
FROM:  AMERICAN FORCES PRESS SERVICE
Africom Promotes Humanitarian Response Readiness in Africa
By Donna Miles
STUTTGART, Germany, July 5, 2012 - As the worst drought in six decades grips the Horn of Africa, displacing millions of people and creating a severe humanitarian crisis, the United States has stepped up its emergency assistance.

An additional $120 million in emergency aid announced in April brings to $1.1 billion the U.S. contribution in drought and famine relief since the crisis began last year, White House officials said, with funding provided by the U.S. Agency for International Development and the State Department.

Army Gen. Carter F. Ham, commander of U.S. Africa Command, understands all too well the security implications of a fragile humanitarian situation that has left millions of people in Somalia, Ethiopia and Kenya in need of urgent assistance.

"The linkage between security and humanitarian efforts in Africa is very clear to me," he told the House Armed Services Committee in February.

Ham expressed concern that looming budget cuts, particularly at the State Department and U.S. Agency for International Development, could affect the United States' ability to assist during this and other humanitarian crises on the continent.

"I do worry overall that if there is a significant decline in the State Department's security assistance or in USAID's ability to provide developmental or humanitarian assistance, those will have security consequences," he said.

Since its inception five years ago, Africom has stood ready to support U.S. government humanitarian and disaster relief operations, said Michael Casciaro, the command's division chief for security cooperation programs.

"The military brings unique capabilities that are used for humanitarian assistance," he said. "And that ranges from developing long-range projects like ... building clinics and schools and providing furniture and equipment for them."

It also includes helping African partners to build capability -- from training them how to conduct humanitarian response operations, to helping them promote HIV/AIDS prevention programs -- so they can conduct these missions themselves.
Africom also works with partner nations to help them develop national humanitarian response plans that include their militaries, Casciaro said. "We then focus on those tasks that were assigned to the military, and help them understand what capabilities are required to be able to do that, and how they need to train to do that," he said.

In support of this effort, Africom is emphasizing disaster response as well as traditional military skills through its robust exercise program on the continent. This year alone, the command and its service components are conducting 16 exercises involving about 30 African nations, all to include a component related to environmental disaster, Ham told the Senate Armed Services Committee in March. The scenarios will run the gamut, he said, but most will involve floods or drought.

These exercises help partner nations formulate and practice plans for responding to natural as well as manmade disasters within their borders, explained Marine Corps Lt. Col. Sam Cook, Africom's joint combined exercise branch chief. "It increases their ability and capability and capacity to conduct these operations themselves," he said.
Ham said African nations are "very accepting" of this training, and understand the security effects of humanitarian assistance and disaster response preparedness. He expressed concern, however, that Africom is finding "less traction on the preventive steps than we are on responses."

The general credited the interagency makeup of Africom, which includes about 30 representatives from more than a dozen U.S. agencies and departments, which he said gives it the capabilities needed to help address challenges requiring "nothing short of a whole-of-government approach."

"No one element of the government has all the resources, authorities or capabilities to address the impacts on security of environmental change," Ham said.
That, he said, demands that Africom work closely with chiefs of mission in Africa who have the responsibility to pull together that whole-of-government approach, as well as with various bureaus in the State Department and the U.S. Agency for International Development to coordinate and synchronize efforts.

That, Ham said, will help achieve the desired end state: "assisting the African countries deal with an increasingly serious security matter that ultimately contributes to our security by them being more secure."

Thursday, May 31, 2012

NAVY SEABEES COMPLETE ETHIOPIAN SCHOOL FACILITIES


FROM: U.S. NAVY
Navy Seabees Complete Ethiopian School Facilities and Enhance Education Opportunities
By Tech. Sgt. Ryan Labadens Combined Joint task Force – Horn of Africa, and Naval Mobile Construction Battalion 3 Public Affairs

DIRE DAWA, Ethiopia (NNS) -- Ethiopian and U.S. personnel gathered for a ribbon-cutting ceremony to dedicate a new school house and two latrines at the Gende Gerada Primary School here May 22.

The school was started by previous Naval Mobile Construction Battalions (NMCB) but was finished by the Seabees of NMCB 3.

The entire project perfectly lines up with the U.S. Navy's slogan "Americas Navy-A Global Force for Good."

NMCB 3 completed construction of two latrines and added final touch ups to the school house after their arrival in February, said Lt. j.g. Sarah Ursetti, NMCB 3 officer in charge.

The school already hosts approximately 2,500 students. The new four-room school house now allows the school to accommodate 200 additional students, said the principal of Gende Gerada, Kumsa Baysa.

Dire Dawa education officials plan on using the new building to teach children ages five to six, said Kumsa. This will be the first time the school will have the facilities to hold a kindergarten program.

"The addition of the new classrooms will provide great benefits for the education of our country," said Kumsa. "I would like to say 'thank you' to the people of the United States government and our people who worked with the U.S. military."

The Seabees were not alone in their construction efforts, said Ursetti. Since the project began in April 2010, several Gende Gerada school boys lent a helping hand to the Seabee construction crews whenever and wherever they could.

"It started off with three or four boys initially, but when our crew arrived that number grew to about seven, with several others helping out as we neared the end," said Ursetti.

"They helped us during every recess and even on the weekends," said Builder 2nd Class Benjamin Weber, NMCB 3's project supervisor for the school. "They are hard workers. I would welcome them to my crew anytime."

While the students and the Seabees were working together they taught each other about their culture and a little of their language.

"We learned a lot from each other," said Builder Costructionman Jaqui Shaw. "They taught us about their culture and we taught them about ours on top of answering endless questions about America. It was a great experience."

During the dedication ceremony, Rear Adm. Michael Franken, CJTF-HOA commander, presented each of the young students with his command coin to thank them for their hard work and dedication to their school.

In his speech during the ceremony, Kumsa revealed his vision of the results the new facilities will bring.
"In the future, you will see many kids filling up this school and we will use it for the betterment of our country," said Kumsa

NMCB 3 is an expeditionary naval construction element currently assigned to U.S. 6th Fleet's Commander, Task Force 68, to provide construction, engineering, and security services that support national strategy, naval power projection, humanitarian assistance and contingency operations.

Saturday, April 28, 2012

EX-IM BANK RENEWS $100 MILLION AFRICA INSURANCE INITIATIVE


FROM:  EXPORT-IMPORT BANK
Cover Policy Expansions Coming in Three African Countries
WASHINGTON, D.C.: The Export-Import Bank of the United States (Ex-Im Bank) today announced a three-year renewal of the Bank’s Short-Term Africa Initiative (STAI) that provides export-credit insurance for U.S. exporters selling to 18 countries in sub-Saharan Africa, up to a program limit of $100 million. The initiative is renewed through March 31, 2015.

The Bank also anticipates expanding the availability of its export financing in three sub-Saharan African countries: Cameroon, Ethiopia and Tanzania. Ex-Im Bank’s board of directors is expected to authorize cover-policy expansions for each respective country in May. The changes will be made possible by risk-assessment upgrades that were recently approved through a federal interagency review.

“Sub-Saharan Africa offers great, untapped potential for U.S. companies looking to grow by increasing their foreign sales. Through Ex-Im’s initiative, the U.S. government is opening markets throughout this region,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “We encourage more exporters to enter these markets now to establish a presence that can lead to follow-on business for years to come.”

Hochberg added that the financing risks of many sub-Saharan markets have improved significantly and are lower than commonly perceived. He noted that the Bank has had an excellent experience of repayment in these markets in recent years.

“Since 2002, Ex-Im Bank has authorized $4 billion to support U.S. exports to sub-Saharan Africa, and we’ve netted more than $150 million in fees,” Chairman Hochberg said. “Ex-Im’s net loss rate in the region is 2 percent, with our fees earning 2.5 times more than the claims we’ve received. This is a very solid repayment record. We want more U.S. exporters to initiate or expand their business in Africa.”

In FY 2011, Ex-Im Bank surpassed the $1 billion authorizations mark for the first time in sub-Saharan Africa, with almost $1.4 billion approved to support U.S. exports to the region. The Bank anticipates another strong authorizations year in FY 2012.

Under STAI, Ex-Im Bank provides support for short-term transactions (repayment terms of up to 180 days, exceptionally up to 360 days) in markets where coverage would not be available under the Bank’s standard cover policy, which is normally based upon credit-risk analysis for medium-term transactions (repayment terms up to seven years).

Currently, Ex-Im’s insurance on all short-term STAI country transactions is available only under the Bank’s single-buyer insurance policy, which is a select-risk authorization. Existing Ex-Im multibuyer policyholders with a diverse spread of country and buyer risk are also eligible but must submit separate single-buyer policy applications for each STAI country buyer. However, under the initiative’s renewal, exporters having favorable experience with highly creditworthy STAI country buyers may have these buyers endorsed to their multibuyer policy.

Ex-Im’s insurance is available to support U.S. exports of a wide range of goods, including consumer items, spare parts, raw materials, agricultural commodities, and construction and mining equipment, among others. The insurance covers irrevocable letters of credit, promissory notes and open-account repayment terms that enable the exporter to extend short-term financing to the foreign buyer. Policies are also available for eligible U.S. banks.

About Ex-Im Bank:
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country.

Thursday, April 5, 2012

U.S. DROUGHT FUNDING INCREASED TO HORN OF AFRICA


FROM U.S. STATE DEPARTMENT
Increase in U.S. Funding to Drought Relief in the Horn of Africa
Media Note Office of the Spokesperson Washington, DC
April 5, 2012
The United States continues to be deeply concerned by the humanitarian emergency in the Horn of Africa, and particularly the hard-hit Somali population. Despite the end of famine conditions in February, nearly 10 million people in the region still require humanitarian assistance. For this reason, the United States Government is providing an additional nearly $50 million in aid for refugees and drought-affected communities in Somalia, Ethiopia, and Kenya in addition to what we have already provided. As Secretary Clinton announced April 3rd, since early in 2011 "the United States has provided almost $1 billion in humanitarian assistance that has saved countless lives from malnutrition, starvation, and disease. And our sustained commitment has demonstrated the best of America, helping to undermine the extremist narrative of terrorist groups like al-Shabaab in Somalia."

The Famine Early Warning System Network (FEWS NET) stated April 3, 2012 that the March-May rains in the eastern Horn of Africa will not be adequate. Poor rains would likely negatively affect food security in a region still recovering from a devastating drought and famine in 2011. The United States remains committed to breaking the cycle of hunger and famine in the Horn of Africa and to this end will continue to provide humanitarian assistance to those in need and call on others to join it in supporting the UN's $1.5 billion 2012 Consolidated Appeal for Somalia. This appeal is currently funded at only $179 million. We encourage all donors to take additional steps to tackle both immediate assistance needs and strengthen capacity in the region to mitigate future crises.

In addition to our emergency assistance, the United States is leading efforts to address the root causes of hunger and food insecurity by improving agricultural systems in the Horn of Africa under the Feed the Future initiative. As part of these efforts, yesterday in Nairobi, Kenya USAID Administrator Dr. Rajiv Shah participated in a high-level forum on strengthening the resilience of vulnerable communities to drought in the Horn of Africa. The forum brings together African and international development leaders who are committed to working together in new ways to prevent future humanitarian crises related to drought.



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