EXPORT-IMPORT BANK TO FINANCE EXPORT OF 144 AMERICAN-MADE BRIDGES TO AFRICA

FROM:  U.S. EXPORT-IMPORT BANK
Export-Import Bank Approves Financing for Export of 144 American-Made Bridges to Sub-Saharan Africa

Transaction will support jobs in Pennsylvania, Delaware, New Jersey, and several other states

Washington, D.C. – The Export-Import Bank of the United States (EXIM) Chairman and President Fred Hochberg announced today in New Castle, Delaware that the Bank will finance the sale of Acrow Corporation of America’s modular steel bridge components to the Road Development Agency in the Republic of Zambia (ROZ). EXIM will guarantee a $73 million commercial loan to facilitate the export of 144 steel bridges. This action is expected to support approximately 200 jobs at Acrow’s manufacturing facility in Milton, Pennsylvania along with thousands more in Delaware, New Jersey and several other states.

In pursuit of its congressional mandate to support the export of U.S.-made goods and services to the Sub-Saharan region, EXIM authorized more than $2 billion in financing to support such exports in 2014, the largest total in the Bank’s 81-year history.

"With this transaction, we’ve not only leveled the playing field for an American manufacturer in a highly competitive global market, but we’ve also empowered Acrow to hire more American workers,” said EXIM Chairman and President Fred P. Hochberg. "This deal is a great example of how EXIM financing equips American exporters to beat the competition overseas while supporting jobs at home."

Acrow’s competitive proposal was chosen over those developed by its European and Chinese counterparts in a market that has historically been the focus of substantial Chinese investment, thanks to the financing it applied for and received from the Bank. As a result, the company’s bridges will be used in ROZ’s repair and modernization plan to improve Zambia’s rural road infrastructure, connecting people to schools, hospitals and enhanced economic opportunities.

“These EXIM Bank-supported projects transform Acrow Bridge's international presence by offering clients financing alternatives that assist emerging markets in accessing immediate and profound upgrades to their bridging infrastructure, particularly in rural areas where agricultural development depends so heavily on quality road and bridge networks,” said Acrow President and CEO Bill Killeen.

“The Zambia project will build on Acrow Bridge’s decades-long commitment to providing high-quality bridge infrastructure solutions in Africa, with a special focus on local skills capacity building,” added Paul Sullivan, Acrow’s Vice President of International Business Development.

CHAIRMAN EXP-IM BANK SIGNS $1 BILLION MEMORANDUM OF UNDERSTANDING SUPPORTING CLEAN ENERGY EXPORTS TO INDIA

FROM:  U.S. EXPORT-IMPORT BANK 
Ex-Im Bank Chairman Hochberg Signs $1 Billion Memorandum of Understanding to Support U.S. Clean Energy Exports to India

Announces the MOU at the India-US Technology Summit in Noida

Washington, D.C. – Today, Export-Import Bank of the United States (Ex-Im Bank) Chairman Fred P. Hochberg signed a Memorandum of Understanding with Chairman K.S. Popli of the Indian Renewable Energy Development Agency (IREDA) that will explore options for utilizing up to $1 billion to finance the sale of U.S. clean energy exports to India.

Chairman Hochberg is visiting India this week to promote made-in-America exports in support of U.S. jobs.

The availability of Ex-Im Bank financing could translate into support for skilled jobs in the U.S. renewable energy sector while contributing to the Indian government’s recently-announced goal of providing 24-hour electricity to India’s 1.3 billion citizens by 2019, much of it set to come from renewable sources. In fact, Ex-Im Bank has authorized $353.4 million for U.S. renewable energy exports to India since 2009, and Ex-Im Bank was one of the top financiers of projects under the National Solar Mission Phase 1.

“When quality, reliable U.S. goods and services are brought to bear in high-demand markets like India, the benefits are felt in both of our countries,” said Chairman Hochberg. “This Memorandum of Understanding will reinforce the strong ties that America and India already share, create good-paying jobs on both of our shores, and further invigorate America’s clean energy industry while equipping India to meet its own ambitious energy goals.”

After signing the Memorandum, Chairman Hochberg travelled to Noida, India to attend and give remarks at the India-US Technology Summit. During his remarks, Chairman Hochberg highlighted the renewable energy MOU as evidence of the mutual benefits that can be realized by choosing quality U.S. goods.

India ranks as the second-largest destination for U.S. exports supported by Ex-Im Bank financing, and claims more than $7.2 billion of the Bank’s credit exposure through FY 2014. Over the last five years, Ex-Im Bank has authorized an average of $1.4 billion per year to finance U.S. exports to India.

EXPORT-IMPORT BANK AGREES T FINANCE EXPORT OF LOCOMOTIVES TO INDONESIA

FROM:  U.S. EXPORT-IMPORT BANK 

Ex-Im Bank Signs Credit Agreement to Finance Export of American-made Locomotives to Indonesia

Deal Supports 700 U.S. Jobs 

Washington, D.C. – Today Export-Import Bank of the U.S. (Ex-Im Bank) Chairman and President Fred P. Hochberg, GE Transportation President and CEO Russell Stokes, and Indonesia’s PT Kereta Api (PTKAI) of Jakarta President and CEO Ignasius Jonan signed a credit agreement totaling $94.3 million to finance the export of 50 General Electric Company locomotives to Indonesia.

Ex-Im Bank’s credit will support approximately 700 U.S. jobs up and down the supply chain, primarily in Erie, Pa. These estimates are derived from Department of Commerce and Department of Labor data and methodology.

“This is a perfect example of the sort of win-win situation that happens when countries buy American,” said Hochberg. “Ex-Im is proud to facilitate transactions like this one, which will support 700 quality jobs here in America even as it empowers Indonesia to build an enduring, reliable transportation infrastructure on the foundation of quality U.S. products.”

PTKAI is the national railway of Indonesia and operates a fleet of more than 300 locomotives that provide both freight and passenger services on the islands of Java and Sumatra. The company plans to upgrade and modernize the nation’s rail infrastructure to better serve Indonesia’s growing economy.

“Ex-Im Bank's financing of this transaction demonstrates the importance of public and private sector leadership,” said Stokes. “The Bank's financial support is a critical part of GE's ability to win foreign sales and deliver for our global customers like PTKAI. With $94.3 million in financing to PTKAI now secured, GE will build 50 locomotives in Pennsylvania and deliver them next year to Indonesia, sustaining good jobs in the U.S. and abroad.”

Industrial Sales and Manufacturing Inc. (ISM), a small business headquartered in Erie, will supply numerous machined, fabricated and assembled components for the GE locomotives. ISM fabricates, assembles, tests, and finishes products found around the world in applications ranging from transportation, mining, agriculture, and recreation to medical devices and renewable energy.

“As a contract manufacturer supplying original equipment manufacturers, Ex-Im Bank's support of global customers of companies like GE is vital to our own company, our community, and the stability and growth of the broader economy in the United States,” said Jim Rutkowski, Jr. of Industrial Sales & Manufacturing, Inc. of ISM.   “Industrial Sales & Manufacturing, Inc. sees Ex-Im Bank's financial support for international sales as a vital component in our continued success in getting long-term American-made assets in place around the world."

ABOUT EX-IM BANK:

Ex-Im Bank is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad.  Ninety percent of its transactions directly serve American small businesses.

In fiscal year 2013, Ex-Im Bank generated more than $1 billion for U.S. taxpayers while approving more than $27 billion in total authorizations.  These authorizations supported an estimated $37.4 billion in U.S. export sales, as well as approximately 205,000 American jobs in communities across the country.

EXPORT-IMPORT BANK APPROVES RECORD FINANCING OF EXPORTS TO SUB-SAHARAN AFRICA

FROM:  U.S. EXPORT-IMPORT BANK 

Ex-Im Bank Approves Record $1.7 Billion in Financing of U.S. Exports to Sub-Saharan Africa

$3 Billion in Financing Support Pledged for U.S. Exports Over the Next 2 Years

Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) announced today that it has authorized a record $1.7 billion in financing to support U.S. exports to sub-Saharan Africa over the past 10 months. This record-setting surge has not only empowered U.S. small businesses to sell their products in global markets, but has also supported more than 10,000 American jobs which contribute to strengthening the U.S. economy.

The announcement was made as Ex-Im Bank Chairman and President Fred P. Hochberg participated in the U.S.-Africa Leaders Summit convened by President Barack Obama this week in Washington D.C. The summit has drawn about 50 heads of state, ministers, and business leaders from across the African continent.

“Ex-Im Bank is firmly committed to equipping U.S. exporters to realize the vast economic opportunities emerging throughout sub-Saharan Africa, which is home to seven out of 10 of the world’s fastest-growing markets,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Each transaction the Bank supports creates jobs for local U.S. businesses and strengthens our relationship with a region that has a strong prospect for long-term economic growth.”

Ex-Im also announced that it will pledge $3 billion in financing to support U.S exports to sub-Saharan Africa over the next two fiscal years. The Bank also recently signed a memorandum of understanding (MOU) with Angola to strengthen collaboration on the financing of American-made exports to Angola.

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

Ex-Im approved a loan guarantee for $17 million to support long-term financing by the West African Development Bank (BOAD) for the Azito Power project in Cote D’Ivoire. Two-thirds of the population of Sub-Saharan Africa lacks electricity; by strengthening their power capacity, however, their economies will be well-positioned for growth. Financing for steam turbines used in the Azito Power project will support 40 manufacturing and engineering jobs in Schenectady, New York, and Bangor, Maine.
Three Louisana small businesses benefit from Ex-Im’s $43 million financing of a liftboat destined for Nigeria. The “Bellator” liftboat is a self-propelled vessel, 150-foot long by 118-foot wide, that lifts and suspends equipment and personnel up to the level of an offshore drilling platform. About 300 employees of C.S. Liftboats, Inc., of Abbeville, Louisiana, together with Gulf Island Fabrications of Houma, Louisiana, will construct the high-tech vessel. The Nigerian buyer also contracted for prefabricated liftboat-mounted modules for housing workers; these are built by Fiberglass Unlimited Inc. of Raceland, Louisiana. This is Nigeria’s first purchase of a new, American-made liftboat system.

Pennsylvania employees of GE Transportation will benefit from the Bank-supported export of GE’s locomotives with Pennsylvania-made engines and components to Transnet in South Africa. In its recent transaction, Ex-Im Bank authorized a $563.5 million loan guarantee to support financing for the sale of 293 locomotives being manufactured by GE Transportation, which will support an estimated 2,500 U.S. jobs.

EXPORT-IMPORT BANK PROVIDES $64.5 MILLION DIRECT LOAN TO URUGUAYAN COMPANY TO PURCHASE U.S. WIND TURBINES

FROM:  EXPORT-IMPORT BANK 

Ex-Im Bank Finances Export of U.S.-Manufactured Wind Turbines to Talas de Maciel Wind Farm in Uruguay 

Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) is providing a $64.5 million direct loan to Astidey S.A., in Montevideo, Uruguay, for the purchase of U.S.-manufactured wind-turbine generators being exported by Gamesa Technology Corporation Inc., headquartered in Feasterville-Trevose, Pa.

The authorization, which is Ex-Im Bank's second wind transaction in Uruguay, will support approximately 400 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.

Gamesa will supply, transport, install and commission 25 of its G97 2.0-megawatt (MW) wind turbines in the 50 MW Talas de Maciel I wind farm in the Department of Flores, Uruguay, located approximately 135 kilometers northwest of Montevideo. The agreement also includes Gamesa’s operation and maintenance of the facility for 20 years.

"We at Ex-Im Bank are committed to providing the export financing needed to support American jobs in a very competitive global marketplace," said Ex-Im Bank Chairman and President Fred P. Hochberg. "By supporting exports in the renewable-energy sector, we are not only creating jobs here at home but ensuring that American manufacturing continues to thrive."

The Bank’s support for the transaction was needed due to a lack of long-term financing available from commercial lenders. Wind-energy projects typically require longer repayment terms due to the extended amount of time needed for installation and operation at full capacity.

"Gamesa has a strong track record of Latin American projects supported by Ex-Im Bank, which continues to work with us to create new opportunities for growth and expansion. With their competitive rates and expertise, Ex-Im Bank is opening up new markets for U.S.-manufactured goods, which is helping to sustain American jobs across the supply chain," said Borja Negro, CEO of Gamesa North America.

In fiscal year 2013, Ex-Im Bank authorized a $72.6 million loan to support Gamesa’s exports to Palmatir S.A., in Uruguay. The Bank has also supported Gamesa’s exports to wind-energy projects in Costa Rica and Honduras, including the Cerro de Hula project in Honduras, the largest wind farm in Latin America.

Gamesa Technology Corp. designs, manufactures and installs wind-turbine generators and specializes in the turnkey development, operation and maintenance of wind farms. Gamesa has installed more than 29 gigawatts of wind-energy capacity in 44 countries on five continents. The company has more than 19,500 MW under operation and maintenance service contracts globally.

EXPORT-IMPORT BANK REPORTS U.S. EXPORTS REACH $193.9 BILLION IN MARCH

FROM:  EXPORT-IMPORT BANK 

U.S. Exports Reach $193.9 Billion in March

 Ex-Im Bank Continues to Support U.S. Jobs by Financing U.S. Exports

Washington, D.C. – The United States exported $193.9 billion of goods and services in March 2014, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

“As the numbers prove, consumers around the world favor U.S. goods and services, because they know ‘Made in America’ is the best you can buy,” said Export-Import Bank Chairman and President Fred P. Hochberg. “Ex-Im Bank will continue to support U.S. exporters as they fill orders abroad and support jobs here at home.”

Exports of goods and services over the last twelve months totaled $2.3 trillion, which is 45.1 percent above the level of exports in 2009, and have been growing at an annualized rate of 9.1 percent when compared to 2009.

During the same time period among the major export markets (i.e., markets with at least $6 billion in annual imports of U.S. goods), the countries with the largest annualized increase in U.S. goods purchases, when compared to 2009, were Panama (23.5 percent), Russia (19.4 percent), Peru (18.2 percent), Hong Kong (18.1 percent), Colombia (17.8 percent), Argentina (16.5 percent), Chile (15.9 percent), United Arab Emirates (15.3 percent), China (14.8 percent) and Indonesia (14.7 percent).

U.S. EXPORTED OVER $192 BILLION IN JANUARY 2014

FROM:  U.S. EXPORT-IMPORT BANK 
U.S. Exports Reach $192.5 Billion in January
 Ex-Im Bank Continues to Support U.S. Jobs by Financing U.S. Exports

Washington, D.C. – The United States exported $192.5 billion of goods and services in January 2014, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

“U.S. exports are off to a great start for 2014.” said Export-Import Bank Chairman and President Fred P. Hochberg. “Sending our exports abroad is critical to creating jobs here at home. And the Export-Import Bank is a critical link in that chain, connecting America’s small businesses to the 95% of the world’s customers that live outside our borders. As today’s encouraging numbers show, the Ex-Im Bank will continue to explore new opportunities to boost U.S. exports and support American jobs.”

January’s total is smaller than November’s $194.7 billion figure, which was revised slightly downward for the second straight month, but remains the record high. A review was conducted of the 2013 trade data and the figures for each month were revised.

Exports of goods and services over the last twelve months totaled $2.3 trillion, which is 44.3 percent above the level of exports in 2009, and have been growing at an annualized rate of 9.4 percent when compared to 2009.

During the same time period among the major export markets (i.e., markets with at least $6 billion in annual imports of U.S. goods), the countries with the largest annualized increase in U.S. goods purchases, when compared to 2009, were Panama (24.5 percent), Russia (20.2 percent), Hong Kong (19.6 percent), Peru (19.3 percent), Colombia (18.4 percent), United Arab Emirates (18.1 percent), Ecuador (17.2 percent), Chile (17.0 percent), Argentina (16.3 percent), and Indonesia (15.2 percent).

EXPORT-IMPORT BANK REPORTS RECORD YEAR FOR SMALL BUSINESS EXPORT FINANCING

FROM:  EXPORT-IMPORT BANK
Ex-Im Bank Annual Report Outlines Record Year for Small Businesses 
$27 Billion in Export Financing Supported More than 200,000 U.S. Jobs

Washington D.C. – Today the Export-Import Bank of the United States (Ex-Im Bank) released its Fiscal Year 2013 Annual Report highlighting its approval of more than $27 billion in authorizations that supported an estimated 205,000 American jobs. The Bank also approved more than 3,400 small-business authorizations, a new record.

“I am proud to announce that nearly 90 percent of the Bank’s transactions in FY 13 were for small businesses – an all-time high,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Ex-Im Bank employees have done a remarkable job of ensuring that American entrepreneurs have the tools they need to succeed in international markets. Whether it’s providing export-credit insurance to first-time exporters or working-capital guarantees to returning customers, Ex-Im Bank will continue to fulfill its mission of creating U.S. jobs.”

Among the highlights from the 2013 Annual Report:

* Ex-Im financing created or supported an estimated 205,000 export-related U.S. jobs.

* In the last five years (FY 09 to FY 13), Ex-Im Bank has assisted in financing more than $188 billion of U.S. exports and supported 1.2 million American jobs.

* In FY 13, Ex-Im Bank authorized financing for a record high 3,842 export transactions, which totaled an estimated export value of $37.4 billion.

* In FY 13, Ex-Im Bank approved 3,413 small-business authorizations – an all-time high.

* Non-aircraft manufacturing was the industry with the highest authorized amount at $8.5 billion, surpassing aircraft for the first time since 1997.

* Approximately one in five transactions involved women- or minority-owned small businesses.

EXPORT-IMPORT BANK REPORTS FINANCING OVER $27 BILLION IN FISCAL YEAR 2013

FROM:  U.S. EXPORT-IMPORT BANK 
Export-Import Bank Financing Exceeds $27 Billion in FY’13
Supports more than 200,000 U.S. Jobs
Record Number of Small Businesses Reached

 Washington, DC – In Fiscal Year 2013 (FY’13) results released today, the Export-Import Bank of the United States (Ex-Im Bank) unveiled its annual numbers highlighting its approval of more than $27 billion in authorizations, which supported approximately 205,000 American jobs in communities across the country.

“This year American businesses exported a record $2.3 trillion worth of goods and services, and Ex-Im Bank played a key role in that success,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Over the past five years, Ex-Im Bank has created or sustained an estimated 1.2 million American jobs – including 205,000 jobs in FY’13 alone. The Bank is a great example of government operating at the speed of business. I would like to thank the dedicated Ex-Im Bank staff who help our nation’s businesses big and small remain globally competitive.”

Ex-Im Bank worked with more than 3,400 small businesses (89 percent of all transactions) – making it the highest number of small business deals in the Bank’s history. As part of its efforts to increase this portfolio, Ex-Im Bank has hosted more than 60 Global Access for Small Business forums across the country since launching the program in January 2011.

Key highlights 

Ex-Im financing created or supported an estimated 205,000 export-related U.S. jobs.
In FY’13, Ex-Im Bank authorized financing for a record high 3,842 export transactions, which totaled an estimated export value of $37.4 billion.
In FY’13, Ex-Im Bank approved 3,413 small-business authorizations – the highest number of small-business authorizations in the Bank’s history.

In the last five years (FY’09 to FY’13), Ex-Im Bank has assisted in financing more than $188 billion of U.S. exports and supported 1.2 million American jobs.
Manufacturing was the industry with the highest authorized amount at $8.4 billion, surpassing Aircraft for the first time since 1997.

U.S. EXPORT IMPORT BANK APPROVES $1.2 BILLION FOR TELECOM SATELLITE EXPORTS

FROM:  U.S. EXPORT-IMPORT BANK
WASHINGTON, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) approved two separate transactions totaling more than $1.2 billion to finance the export of American-made telecommunications satellites to Mexico and Australia.

Approximately 750 U.S. aerospace jobs will be directly supported in Washington State, California, Pennsylvania and Virginia. In addition, the exports will indirectly support more than 1,000 additional jobs at suppliers throughout the United States.

Ex-Im Bank is providing a $922 million loan guarantee to support the export of three satellites and related equipment to the Mexican government for the MEXSAT regional mobile satellite system. Mexico’s Secretariat of Communications and Transportation will purchase the satellites from Boeing Space and Intelligence Systems in El Segundo, Calif. Boeing will produce two satellites with mobile service satellite (MSS) capacity and will subcontract a third satellite with fixed service satellite (FSS) capacity from Orbital Sciences Corporation in Dulles, Va.

The Bank is also providing a $281 million direct loan to Jabiru Satellite Ltd. (a subsidiary of NewSat Ltd.) in Southbank, Australia, for the purchase of satellite and ground equipment from Lockheed Martin Space Systems Co. in Bethesda, Md.

In FY 2012 to date, Ex-Im Bank has authorized a total of almost $1.3 billion to support U.S. satellite exports, matching its financing for this industry in all of FY 2011.

"American workers produce the best technology in the world, and that is why our satellites are being used from Mexico to Australia," said Fred P. Hochberg, the chairman and president of Ex-Im Bank. "These transactions help sustain and grow high-quality jobs across the country and put us one step closer to meeting President Obama’s National Export Initiative goal of doubling U.S. exports by 2015."

Map Credit:  U.S. State Department Boeing Exports Satellites to Mexican Government
Ex-Im Bank is guaranteeing a $922 million loan from Morgan Chase & Co. of New York to Mexico’s Secretariat of Communications and Transportation for the purchase of two MSS satellites made by Boeing and one FSS satellite made by Orbital Sciences Corporation, and related equipment and services.

The three satellites will be used to deploy the MEXSAT system, a next-generation, space-based communications platform that will help support social and economic development within Mexico. Various sectors will benefit from MEXSAT, including programs focusing on education, health care, disaster relief and rural telephonic service.

Boeing will design and deliver an end-to-end L-band MSS system consisting of two Boeing 702HP geomobile satellites, a spacecraft operations center and related ground infrastructure. Boeing will subcontract with Orbital Sciences Corporation for a FSS satellite for C-band and Ku-band communications and a spacecraft operations center.

Approximately 400 Boeing employees will work directly on the MEXSAT program. The transaction also will support an estimated 80 jobs at Orbital Sciences Corporation. Hundreds of additional jobs will be indirectly supported at related vendors throughout the United States.

"Boeing’s Geo-Mobile (GEM) product line is the most capable mobile satellite available in the global market. Ex-Im’s support for this transaction makes it possible to provide this capability to a valued international customer that shares our border, and, in the process, support U.S. high-technology jobs and American technology excellence in this arena," said Craig Cooning, vice president and general manager of Boeing Space and Intelligence Systems.

Mexico is one of Ex-Im Bank’s nine key markets and accounted for $8.3 billion of the Bank’s worldwide credit exposure at the end of FY 2011. In FY 2012 to date, the Bank has authorized approximately $1.8 billion in financing for U.S. exports to Mexico.


Map Credit:  U.S. State Department.
Lockheed Martin Satellite Export to Jabiru Satellite Ltd. in AustraliaEx-Im Bank’s $281 million direct loan to Jabiru Satellite Ltd. is the Bank’s first satellite transaction in Australia and its first satellite transaction involving Lockheed Martin as the exporter. The transaction will directly support 250 aerospace-based jobs at Lockheed’s manufacturing facilities in Sunnyvale, Calif., and Newtown, Pa. It will indirectly support more than 650 jobs at related suppliers across the country.

"The Ex-Im Bank loan is critical in solidifying a U.S-based satellite procurement that will protect and secure U.S. jobs in the aerospace industry," said Linda Reiners, vice president of Lockheed Martin Space Systems Commercial Ventures. "We congratulate NewSat and look forward to this exciting opportunity to deliver the high-quality Jabiru-1 satellite."

Jabiru Satellite Ltd. will contract the operation of the satellite to MEASAT Satellite Systems Sdn. Bhd. of Malaysia, which operates a fleet of five satellites reaching 145 countries in Asia, Africa and Europe.

Jabiru-1 will be Australia’s first privately-owned commercial satellite. It will rely upon 8.1 gigahertz of capacity to provide Ka-band and Ku-band coverage to government, corporate and industrial sectors in the high-growth regions of the Middle East and Africa during its 15 years of useful life. The satellite’s launch date is scheduled for 2014.

In FY 2011, Ex-Im Bank’s credit exposure in Australia represented $1.7 billion of the Bank’s portfolio. In FY 2012 to date, the Bank has authorized more than $3.1 billion in financing for U.S. exports to Australia.

Ex-Im Bank Chairman Hochberg will meet with government and business leaders in Australia from August 13-17.


　

EXPORT-IMPORT BANK APPROVES $57.3 MILLION FINANCING FOR EXPORT OF SOLAR PANELS TO INDIA

FROM: U.S. EXPORT-IMPORT BANK

Ex-Im Approves $57.3 Million in Financing for Renewable-Energy Exports to India
Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) has authorized a pair of loans totaling $57.3 million to Solar Field Energy Two Private Ltd. and Mahindra Surya Prakash Private Ltd., respectively, to finance the export of American solar panels and ancillary services to India.

The solar panels, which are manufactured by First Solar Inc. of Tempe, Ariz., will be used in the construction of solar photovoltaic plants in Rajasthan, India. These transactions will support 200 U.S. jobs at First Solar’s manufacturing facility in Perrysburg, Ohio.

Solar Field Energy Two, a Mumbai-based company wholly owned by Kiran Energy Solar Private Power Ltd., has been approved for a $23 million loan from Ex-Im Bank for the construction of a 20-megawatt (MW) solar facility in Rajasthan. Mahindra Surya Prakash, also of Mumbai and owned by Kiran Energy and Mahindra Holding Ltd., has been approved for a $34.3 million Ex-Im loan to build two solar facilities (one 20 MW and one 10 MW) in Rajasthan as well.

"These important transactions will finance the purchase of American products and services and support jobs in our innovative renewable-energy sector," said Ex-Im Bank Chairman and President Fred P. Hochberg. "On top of that, Ex-Im’s financing will contribute to India’s drive to embrace clean-energy sources."

In 2010, the Indian government launched the Jawaharlal Nehru National Solar Mission in an effort to add 20,000 megawatts of installed solar capacity to the nationwide grid by 2020. According to a 2012 report in the Wall Street Journal, nearly 300 million people in India live without electricity.

India is one of Ex-Im Bank’s nine key markets and accounted for approximately $7 billion of the Bank’s worldwide credit exposure as of the end of FY 2011. In FY 2011 and FY 2012 to date, the Bank authorized more than $330 million in financing for Indian solar projects.

In FY 2012 to date, the Bank has authorized approximately $380 million for renewable-energy exports of all types worldwide.

Founded in 1999, First Solar is the world's largest manufacturer of thin-film solar modules and has more than 1,900 employees in the United States, including 1,200 employees at its Perrysburg, Ohio, manufacturing and engineering center.

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.