EX-IM BANK APPROVES NEARLY $3 BILLION IN EXPORT FINANCING FOR U.S. GOODS AND SERVICES TO AUSTRALIA PACIFIC LNG PROJECT

FROM:  EXPORT-IMPORT BANK
WASHINGTON, D.C.: The Export-Import Bank of the United States (Ex-Im Bank) has authorized a $2.95 billion direct loan to support U.S. exports to the Australia Pacific liquefied natural gas (LNG) project. The transaction is Ex-Im’s second-largest single-project financing in history and is also the Bank’s first LNG project in Australia.

The project on Curtis Island in south-central Queensland will produce natural gas from coal-seam wells and will have total capacity of nine million metric tons per year. China Petroleum and Chemical Corp. (Sinopec) and Kansai Electric Power Co. Inc. of Japan will purchase most of the LNG produced. China Ex-Im Bank and commercial lenders are also providing debt financing for the project.

Ex-Im’s financing is expected to support an estimated 11,000 American jobs. Principal U.S. exporters are ConocoPhillips Co. and Bechtel International, both of Houston, Texas. Additional exporters and suppliers include numerous small businesses in Texas, Colorado, Nevada, California, Oregon and Oklahoma.

“Our authorization paves the way for U.S. companies to export equipment and services to this major LNG project and, in so doing, to maintain thousands of American jobs across the country,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “This financing also demonstrates how the United States and China can work together for our mutual benefit to foster trade and develop critically needed energy resources.”

The transaction, approved by Ex-Im’s board of directors on May 3, was announced following Chairman Hochberg’s trip to China, where he participated in the fourth round of the Strategic and Economic Development Dialogue (S&ED) with Treasury Secretary Timothy F. Geithner and other officials. The S&ED was held in Beijing on May 3-4.

Bechtel official Jay C. Farrar, who manages the company’s office in Washington, D.C., cited the importance of Ex-Im’s financing for U.S. exporters to large international projects. “Since 1992, Ex-Im Bank has been instrumental in the successful awarding and completion of projects involving Bechtel that have supported thousands of jobs for highly skilled employees at our company. The Bank’s financing also has helped to maintain thousands of additional jobs related to the supply chain for these projects,” Farrar said. Bechtel Corp. is an international engineering, construction and project management company.

The Australia Pacific LNG project will involve development of coal-seam natural-gas fields, two gas transmission lines to a collection hub, a natural gas liquefaction plant and an adjacent marine shipping export terminal on Curtis Island near the city of Gladstone.

U.S. EXPORT-IMPORT BANK SIGNS DEAL TO FACILITATE TRADE BETWEEN U.S. AND MONGOLIA

                                                        Map:  Central Intelligence Agency
FROM:  U.S. EXPORT-IMPORT BANK
Ex-Im Bank, Development Bank of Mongolia Sign MOU to Facilitate Trade Partnership Between Countries
Ex-Im Chairman conducting first business development mission to Mongolia
Ulaanbaatar, Mongolia: The Export-Import Bank of the United States (Ex-Im Bank) and the Development Bank of Mongolia signed a memorandum of understanding (MOU) on May 1st to facilitate trade opportunities between the United States and Mongolia.

Ex-Im Bank Chairman and President Fred P. Hochberg and Development Bank Chaiman Bazarsuren Batjargal signed the agreement at the Government House of Mongolia.
“Mongolia has one of the fastest growing economies in the world, and there are enormous opportunities for U.S. businesses to help meet the country’s growing infrastructure needs,” said Fred P. Hochberg, chairman and president of Ex-Im Bank. “Signing this document represents a pledge of cooperation, and we look forward to working together on upcoming projects that benefit both of our countries.”

Chairman Hochberg is on a business-development mission in Mongolia to encourage sourcing of U.S. products and services for regional infrastructure projects. The Bank has historically had limited exposure in the country, however, several products are currently in the pipeline that will increase Ex-Im’s activity.
This is Hochberg’s first visit to Mongolia, and it is the first recorded visit of an Ex-Im Bank chairman to the country since the Bank was formed in 1934.

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 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.

U.S. EXPORT-IMPORT BANK REPORT

FROM:  U.S. EXPORT-IMPORT BANK
During the first half of fiscal year 2012, Ex-Im Bank approved $10.7 billion in authorizations. This financing is supporting approximately 96,000 American jobs. Although total authorizations decreased by 18% when compared to the first half of fiscal year 2011 ($13.1 billion in FY’11 and $10.7 billion in FY’12), small business transactions went up. Ex-Im authorizations during this period included $2.1 billion for small business, which was, as a percentage of total authorizations, an increase over last year’s performance, bringing this portfolio slightly below 20% of overall activity. Additionally, we added 273 new small companies to our ranks in the first half of fiscal year 2012.Working capital loan guarantees, which primarily support small business, were the highest volume of transactions in the second quarter.

Pending our reauthorization, long-term transactions in our pipeline put Ex-Im on track for another record-setting year. In addition, small business authorizations are expected to exceed the historic high of $6 billion achieved in fiscal year 2011.

Our pipeline contains a large number of Structured/Project Finance transactions, which have longer lead times. These are primarily located in Australia, the Middle East, and North Africa with concentrations in the manufacturing and power industries.

Ex-Im transactions contributed to the increase in overall U.S. goods and services exported in February, valued at $181.2 billion. The Commerce Department reported that over the last twelve months, the U.S. exports totaled $2.134 trillion, which is the largest amount the U.S. has ever exported in one year. In support of the National Export Initiative, we are still on track to doubling exports by 2015.

EXPPORT-IMPORT BANK WORKS TO EXTEND REAUTHORIZATION WITH $140 BILLION CAP

FROM:  EXPORT-IMPORT BANK
As you know, the Ex-Im Bank charter expires on May 31st, and we are close to our exposure limit of $100 billion. Our efforts to achieve the President’s request for a four-year reauthorization with a $140 billion lending cap have been steady over these past few months.  But an effort in March to pass such a measure in the Senate fell short on procedural grounds.

Ex-Im Bank increases U.S. jobs, pays for itself and earns money for the U.S. Treasury -- $1.9 billion over the past five years. That is why we continue to enjoy strong, broad support. Members on both sides of the aisle, along with the U.S. Chamber of Commerce, the Small Business Exporters Association, National Association of Manufacturers, Machinists and Aerospace Workers Unions, and others have been advocating for our reauthorization.

The world wants to buy what America makes, and this is no time to back away from export financing of United States equipment and services. In particular, our Nation’s small business owners are operating in a brutally competitive marketplace, and we need to be there so our companies and workers can conduct business on a level playing field. Ex-Im FY’11 financing supported 290,000 jobs, more than 1,000 jobs per working day.
Government-backed credit from other nations to help their companies export is growing, especially in emerging markets. Therefore, Ex-Im Bank plays a key role when foreign buyers are in need of high-quality products or services. We increase the opportunities for U.S. businesses to win the deals.

The next few weeks are critical. We are continuing to work with the House and Senate for support for our reauthorization, and we urge them to act promptly before serious damage is done to American competitiveness.

At our recent 37th annual conference, Ex-Im’s reauthorization received tremendous support.  This newsletter includes highlights from the very successful two-day event.

EX-IM BANK WORKS TO BUILD INFRASTRUCTURE IN VIETNAM

FROM:  EXPORT-IMPORT BANK
One of Nine: Spotlight on Vietnam
Chairman in Vietnam Leads Business Development Team in Vietnam to Promote Closure of Nearly $1.5 Billion in Critical Infrastructure Projects

In early February, Chairman Hochberg led a business development team with Ex-Im Director Patricia Loui in both Ho Chi Minh and Hanoi to boost commercial ties and business opportunities between the United States and Vietnam. Vietnam is one of nine key markets where Ex-Im Bank is focusing its business development efforts because of the country's infrastructure and development needs. Ex-Im Bank's current exposure to Vietnam is $175.8 million.

Asia is Ex-Im's largest regional market, representing nearly a quarter of the Bank's portfolio. Ex-Im Bank’s current exposure in Asia is approximately $27 billion. And Vietnam is a country with a great deal of untapped potential for U.S. exporters. Currently, over 500 U.S. American businesses have a presence in Vietnam. This country is speeding up implementation of economic and financial sectors restructuring. Ex-Im Bank is looking for projects that will create good jobs and economic opportunities in both countries while also meeting Vietnam’s power and infrastructure needs. Ex-Im Bank's business development team currently has three infrastructure projects in the pipeline and is continuing to hold discussions with business leaders on additional export opportunities for U.S. exporters.

U.S.-AZERBAIJAN ECONOMIC PARTNERSHIP

FROM:  U.S. STATE DEPARTMENT
U.S.-Azerbaijan Economic Partnership Commission
Media Note Office of the Spokesperson Washington, DC
April 19, 2012
The U.S. Department of State welcomed the Minister of Finance Samir Sharifov of Azerbaijan and his delegation for the third meeting of the U.S.-Azerbaijan Economic Partnership Commission (EPC), which met yesterday in Washington. Participating U.S. Government agencies included the Departments of State, Energy, Justice, and Treasury; Office of the United States Trade Representative; United States Agency for International Development (USAID); Export-Import Bank of the United States; and United States Trade and Development Agency.

This strategic dialogue, co-chaired by Under Secretary of State for Economic Growth, Energy, and the Environment Robert D. Hormats and Minister Sharifov, explored opportunities for further economic and commercial cooperation between the United States and Azerbaijan. This high-level meeting included sessions led by Assistant Secretary of State for Economic and Business Affairs Jose W. Fernandez, USAID Assistant Administrator for Europe and Eurasia Paige Alexander, Assistant Secretary of State for South and Central Asian Affairs Robert Blake, Assistant Secretary of Energy for Electricity Delivery and Energy Reliability Patricia A. Hoffman, and Special Envoy for Eurasian Energy Ambassador Richard Morningstar. The delegations discussed economic diversification, financial services, energy, trade and investment, and new, cooperative initiatives. Participants also discussed expanding the agreement under which the Government of Azerbaijan co-finances development projects implemented by USAID in Azerbaijan.

EX-IMPORT BANK GIVES THUMBS-UP ON $80 MILLION SOLAR PROJECT LOAN IN INDIA

FROM:  U.S.  EXPORT-IMPORT BANK
Ex-Im Bank Approves $80 Million in Export Financing for Solar Project in India
Ex-Im Bank Financing Supports U.S. Jobs in Eight States
WASHINGTON, D.C. --- Supporting U.S. jobs at companies in eight states, the board of directors of the Export-Import Bank of the United States (Ex-Im Bank) approved an $80.32 million direct loan for the purchase of concentrated solar power technology by Reliance Power, Ltd. in Rajasthan, India. The project, “Rajasthan Sun Technique Energy Private Limited,” is a subsidiary of Reliance Power and is being co-financed by the Asian Development Bank and FMO, the Dutch development bank.

While accompanying President Obama on his trip to India in November, 2010, Ex-Im Bank Chairman and President Fred P. Hochberg signed a $5 billion Memorandum of Understanding (MOU) with Anil Ambani, Chairman of Reliance Power. The MOU proposed the purchase of 900 megawatts of renewable energy generating equipment, in addition to the purchase of 8,000MWs of gas-fired technology from U.S. manufacturers and service providers over a period of five years. Since then, Ex-Im Bank has financed $760 million in three Reliance Power renewable energy transactions supporting 165 megawatts of solar and 2400MWs of gas.

U.S. companies potentially involved in the transaction include AREVA Solar Inc. (Mountain View, Calif.); E.I. DuPont de Nemours and Co. (Wilmington, Del.); Clifford Chance Rogers Wells LLP (Washington, D.C.); 3M Company (St. Paul, Minn.); Sika Corp. (Lyndhurst, N.J.); CCI Corp. (Tulsa, Okla.); Certainteed Corp. (Valley Forge, Pa.); Huck International Inc. (Waco, Texas); and Weed Instrument Company Inc. (Round Rock, Texas).

"This transaction will give renewable energy U.S. exporters a larger footprint in India, and it will help them be competitive against the German and Chinese companies in this field," said Hochberg. “We are excited to be at the forefront of financing this innovative technology and meeting the demands in India for cutting-edge, American-made solar equipment.”

"The Ex-Im Bank loan is an important component in helping U.S. companies like AREVA Solar, and our subcontractors, compete for and execute solar energy projects in a competitive global market while creating American jobs and economic growth." said Bill Gallo, Chief Executive Officer, AREVA Solar.

“Reliance Power is proud to be a leader in India’s clean energy future. This is the second loan approval by Ex-Im in our renewable energy initiative,” stated Jayarama P. Chalasani, Chief Executive Officer of Reliance Power. “Our strategic tie-up with Ex-Im is unmatched in terms of its scope and size. This partnership plays an important role in meeting India's growing energy needs.” Chalasani discussed export potential for U.S. companies at the breakout session, “Exploring Opportunities in India,” today at the Ex-Im Bank 2012 Annual Conference.

The purchase will showcase a concentrated solar power technology known as compact linear Fresnel reflector (CLFR) from AREVA Solar Inc. CLFR technology boils water using a series of rotating flat mirrors to concentrate sunlight onto a central elevated system of tubes that contain water. The solar system produces superheated steam that is collected in a piping system and transported to a steam turbine to produce electricity. This project along with the Kogan Creek Solar Boost Project in Australia (44 MW under construction) are the first to use technology of this kind from AREVA Solar on a large commercial scale.  

Since fiscal year 2011, Ex-Im Bank has financed seven Indian solar power generating projects. With today’s transaction the Bank’s total authorizations for these projects is $256.7 million, supporting 205 megawatts, which would generate enough electricity to power about 250,000 homes in India. Ex-Im Bank is one of the largest financiers of renewable energy projects in India.

The demand for solar power in India is in part due to India's national solar initiative, the Jawaharlal Nehru National Solar Mission. The initiative’s objective is to bring 20,000 megawatts of installed solar capacity into the nationwide grid by 2020. Seven percent of the energy installed capacity will be renewable energy in the country. Ex-Im Bank's support was needed due to a general lack of available long-term financing at commercially feasible terms for solar projects in India.

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 nearly $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.

U.S. EXPORTS OVER $181 BILLION IN FEBRUARY

FROM:  U.S. EXPORT-IMPORT BANK

U.S. Exports Hit More Than $181.2 Billion in February

WASHINGTON, D.C. – The United States exported $181.2 billion in goods and services in February 2012, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department. Exports of goods and services over the last twelve months totaled $2.134 trillion, which is 35.46 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 15.04 percent when compared to 2009, a pace slightly greater than the 15 percent required to double exports by 2015.

“Exports are more important to America than ever, and I am pleased that we are on track to meet President Obama’s goal of doubling U.S. exports by 2015,” said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States.

Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Panama (39.1 percent), Turkey (37.0 percent), Honduras (32.1 percent), Argentina (31.0 percent), Chile (30.8 percent), Hong Kong (30.2 percent), Peru (28.1 percent), Russia (26.2 percent), Brazil (25.9 percent), and Guatemala (24.2 percent).

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.

$84.8 MILLION APPROVED BY EX-IM BANK FOR BRAZILIAN AIRLINE MAINTENANCE

FROM U.S. EXPORT-IMPORT BANK
Ex-Im Bank Approves $84.8 Million for Brazilian Airline Maintenance
Ex-Im financing supports highly-skilled Delta jobs in Atlanta
Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) today announced that the board of directors has approved a Final Commitment for an $84.8 million loan guarantee to VRG Linhas Aereas S.A. (GOL), a Brazilian airline. This financing will support the export of engine maintenance services by Delta TechOps, a subsidiary of Delta Air Lines, headquartered in Atlanta, Ga.

GOL engines will be shipped from São Paulo City to Atlanta for heavy maintenance to be performed by Delta Air Lines’ maintenance, repair, and overhaul unit. In December 2010, GOL signed a contract with Delta Air Lines to perform heavy maintenance on GOL’s CFM56-7B engines that are installed on the airline’s Boeing 737 next generation aircraft fleet. As part of the contract, Delta TechOps will provide GOL with up to 253 scheduled engine removals and additional unscheduled removals. Ex-Im Bank’s guarantee will cover the first two years of GOL’s five-year contract with Delta TechOps.

“Ex-Im Bank’s financing will support high quality, high wage, technical jobs for Delta employees in Atlanta,” said Fred P. Hochberg, chairman and president of Ex-Im Bank. “GOL is a long-time Ex-Im customer, and I’m pleased that they have chosen to have their engines repaired by highly-skilled American workers. This transaction truly highlights why Ex-Im financing is so critically important to U.S. businesses such as Delta.”

“GOL’s maintenance agreement with Delta Air Lines is essential to supporting our existing fleet, which has grown along with our airline operations in recent years,” said Constantino de Oliveira Junior, Chief Executive Officer of GOL.  “The availability of Ex-Im Bank supported financing was an important consideration that led us to choose a U.S. provider for these important services.”

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.

EXPORT-IMPORT BANK MAY SOON HAVE IT'S ACCOUNT CLOSED

STATEMENT BY FRED P. HOCHBERG,

CHAIRMAN AND PRESIDENT, EXPORT-IMPORT BANK OF THE UNITED STATES

March 20, 2012

“The Senate’s failure to renew the Export-Import Bank Charter, which expires in 72 days, is a setback for American workers who produce the high-quality goods and services that are in demand around the world.

“Ex-Im Bank increases U.S. jobs, pays for itself and earns money for the U.S. Treasury, and as a result enjoys strong, bipartisan support. However, delays in renewing the Charter threaten over 1,000 export-related jobs that are supported every workday by Ex-Im Bank financing. Not reauthorizing the Bank places American companies at a serious disadvantage against their foreign competitors. We are already hearing that some customers of U.S. exporters are considering switching their purchases to foreign companies due to the uncertain availability of future Ex-Im Bank financing.

“We will continue to work with House and Senate leadership and I am confident that Congress will ultimately approve a four-year reauthorization of our Charter, but I urge them to act promptly before serious damage is done to American competitiveness.”

The above excerpt is from an Export-Import Bank e-mail:

SMALL BUSINESS BENEFITS FROM STREAMLINED EXPORT-IMPORT BANK LOAN APPLICATIONS

The following excerpt is from an Export-Import Bank e-mail:

Export-Import Bank Issues over 200 Express Insurance Policies in First Year 

Small Businesses across the Country Benefit from Streamlined 

Application for Short-Term Export Credit Insurance

WASHINGTON, D.C. --- When Martin Weinberg, President of Xamax Industries of Seymour, Connecticut, was encouraged by his accounting firm to look to the Export-Import Bank of the United States (Ex-Im Bank) for export financing, he was skeptical - “We wanted to go a month or two to see if Ex-Im Bank was for real,” stated Weinberg. “Now I know that Ex-Im Bank products are a no-brainer. What Ex-Im Bank charges for insurance and what the policy actually meant for my company, it wasn’t a hard sell for me.”

Xamax Industries is the 200^th small business to be approved for an Ex-Im Bank Express Insurance policy. The company is a manufacturer of raw materials including rolled goods such as paper, plastic, and nonwoven fabrics. The materials are sold to manufacturers abroad where the final product is assembled. According to Weinberg, Xamax will expand its workforce as business grows overseas.

After attending a Global Access for Small Business forum in New Haven, Conn., Weinberg was convinced. He learned that with Ex-Im Bank insurance, his company could increase foreign sales overseas without elevating the risk. The $1 million policy was brokered by Export Risk Management of Salisbury, Conn.

With export markets worldwide, Xamax is now willing to pursue additional buyers. “We can extend better terms to our customers,” commented Weinberg. “For example, we now have a positive balance in China – in other words, we sell more in China than we purchase, which is basically unheard of.”

 “Our efforts to encourage more small businesses to export are paying off through the use of Bank products like Express Insurance,” said Fred P. Hochberg, chairman and president of Ex-Im Bank. “With the exporting success of companies like Xamax Industries, I am optimistic that our products are effective solutions for small business exporters seeking financing for themselves and their foreign buyers.”

Express insurance was launched in April, 2011 and has soared in the past year as a reliable tool for small business. Express insurance streamlines the process of acquiring short-term insurance. Small businesses are able expand into new foreign markets, add new buyers, and transfer foreign buyer credit decision making to Ex-Im Bank at an economical cost. The online application provides a policy quote and two foreign buyer credit decisions up to $300,000 within five workdays. More information on how to apply for the policy is available on the Ex-Im Bank website.

In fiscal year 2011, small business financing rose over 70 percent from $3.3 billion in FY 2008 to $6 billion in FY 2011. As part of its efforts to increase this portfolio, Ex-Im Bank's Global Access for Small Business initiative has held more than 30 forums across the country since its launch last year.

Recently, while in Seattle with Chairman Hochberg, President Obama announced two new Ex-Im Bank products, Global Credit Express (GCE) and the Supply-Chain Finance Guarantee program for Boeing small business suppliers. Through GCE, small business exporters may be eligible for a revolving line of credit, up to $500,000 for 6 to 12 months. The product is specially designed to finance the business of exporting rather than specific export transactions. During its pilot phase, GCE will be offered by a select number of lenders nationwide.

The Supply-Chain Finance Guarantee program provides competitively priced working capital financing to suppliers of goods or services to U.S. exporters. The program enables suppliers to receive early payment of their accounts receivable that are due from participating exporters in exchange for a small discount fee that is paid to the lender. Ex-Im Bank provides a 90 percent guarantee of the invoices while the lender bears 10 percent of the risk.

Under the Ex-Im program, approved lenders must have an existing supply-chain finance program. Ex-Im Bank has set a target that at least 50 percent of the credit be extended to suppliers that meet the definition of a small business as defined by the U.S. Small Business Administration by the end of the 12-month term. The end products must be for export and must meet Ex-Im Bank's requirements for U.S. content.

Small business exporters interested in additional information on GCE and other Ex-Im Bank products may contact the Bank by calling toll-free to 1-800-565-EXIM (3946) and selecting option 2.

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 nearly $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. 

U.S. EXPORTED $180.8 BILLION IN GOODS AND SERVICES IN JANUARY 2012

The following excerpt is from an Export-Import Bank e-mail:

"U.S. EXPORTS HIT MORE THAN $180 BILLION IN JANUARY

WASHINGTON, D.C. – The United States exported $180.8 billion in goods and services in January 2012, an increase of  more than $1 billion over December 2011, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

Exports of goods and services over the last twelve months totaled $2.118 trillion, which is more than 34 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 15.3 percent when compared to 2009, a pace greater than the 15 percent required to double exports by the end of 2014.

"The Brookings Institute yesterday released the report, “Export Nation 2012,” and it confirmed that exports are leading the way toward economic recovery,” said Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States (Ex-Im Bank). 

The Brookings report also found sales grew by more than 11 percent in 2010, the fastest growth since 1997. In terms of job creation, the number of U.S. total export-supported jobs increased by almost 6 percent in 2010, even as the overall economy was still losing jobs. Further, large metropolitan areas powered the nation’s export growth – the largest metro areas produced almost 65 percent of the U.S. export sales in 2010.

Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were Turkey (40.7 percent), Panama (37.9 percent), Argentina (34.0 percent), Honduras (32.9 percent), Chile (30.2 percent), Hong Kong (30.2 percent), Peru (29.0 percent), South Africa (27.6 percent), Brazil (26.7 percent), and Guatemala (25.6 percent).

In the first quarter of fiscal year 2012, Ex-Im Bank approved $4.26 billion in authorizations, supporting approximately 37,000 American jobs. Over $789 million in export financing was authorized for small businesses, and the number of small business customers increased by 10% over the same quarter in 2011.

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 nearly $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."

EXPORT-IMPORT BANK EXPANDS PRESENCE TO FOUR MAJOR U.S. CITIES

The following excerpt is from a Export-Import Bank e-mail:

EXPORT-IMPORT BANK OF THE UNITED STATES TO ESTABLISH FULL-TIME PRESENCE IN ATLANTA, DETROIT, MINNEAPOLIS, SEATTLE
Financing for U.S. exporters with focus on small business    

 

Detroit, Mich. – Today at the Detroit Economic Club, Fred P. Hochberg, the chairman and president of the Export-Import Bank of the United States (Ex-Im Bank), announced that Ex-Im Bank will establish a new full-time presence in four U.S. cities by this summer. Bank staff, which are currently being recruited for the new positions, will be based in Atlanta, Detroit, Minneapolis, and Seattle. This will provide local small business exporters with enhanced access to Ex-Im Bank products and services. 

“Ex-Im Bank wants to provide small businesses access to export financing for their export sales,” said Chairman Hochberg. “Exports are a true bright spot in our economic recovery, and having additional field staff in four cities will help ensure that more U.S. businesses are reaching international markets.” 

“More Michigan exports mean more Michigan jobs,” said U.S. Senator Debbie Stabenow, a member of the President’s Export Council under both Presidents Bush and Obama. “Helping Michigan small businesses reach new markets is absolutely one of the best ways to strengthen our economy. There is still a lot of work to be done, but with our auto industry coming back, Detroit welcoming the country’s first-ever satellite patent office and now this new export center, good news is happening in Michigan."

“Last month, I joined President Obama during his visit to Everett when he highlighted the importance of the Export-Import Bank,” said Seattle Mayor Mike McGinn. “We welcome their new office in our city, the opening of which is evidence of Seattle’s resilient economic force in our region. With more than 95 percent of the world's consumers living outside the United States, it is vital that Washington businesses - both large and small - explore international markets.”

“Growing local jobs by expanding exports is one of our key regional economic development strategies,” said Minneapolis Mayor R.T. Rybak. “Before now, the Export-Import Bank was the only member of the Federal export team that we were missing here in Minneapolis–Saint Paul. We asked the Obama Administration to fill that gap, and they listened. Now expert advisors on export financing tools and export order insurance will be right here for easy access by Minneapolis–Saint Paul companies. Exports support more than 117,000 jobs in our region, and the Export-Import Bank full-time presence in Minneapolis will only help us grow that number.” 

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."  

$83 MILLION APPROVED BY EX-IM BANK FOR FINANCING LOCOMOTIVE SALES TO CANADA

The following excerpt is from the Export-Import Bank website:

Ex-Im Bank Approves $83 Million in Export Financing for Sale of U.S.  Locomotives to Canada

Transaction Supports 500 American Jobs Across Six States
WASHINGTON, D.C. --- The Export-Import Bank of the United States (Ex-Im Bank) approved an $83.1 million loan guarantee to support the sale of six American-made locomotives, railroad cars, and mining equipment to the Iron Ore Company of Canada (IOC). This transaction supported 500 U.S. jobs across a range of American businesses in six states (Arkansas, Illinois, Missouri, Tennessee, Virginia and Wisconsin).

“As global infrastructure investment increases, high quality, American-made locomotives and equipment are in demand around the world,” said Fred P. Hochberg, chairman and president of Ex-Im Bank.  “Ex-Im is committed to ensuring that the financing is in place to allow American companies to win a growing share of these sales. These transactions bolster our manufacturing base, while creating, supporting and sustaining good jobs in communities across the United States.”

2011 was a record year in locomotive financing for Ex-Im Bank, with more than $550 million supporting the sale of American-made locomotives to hard to reach markets, including Kazakhstan and South Africa.

The U.S. companies involved in the IOC transaction include Electro-Motive Diesel, Inc. (EMD) (LaGrange, Ill.), American Rail Car Industries Inc. (St. Charles, Mo.), Freightcar America Inc. (Chicago, Ill.), Harnischfeger Corp. (Milwaukee, Wisc.), Komatsu America Corp. (Peoria, Ill.), and Caterpillar, Inc. (Peoria, Ill.). Comerica Bank (Detroit, Mich.) is the guaranteed lender.

“These companies build products that are built to last and in the process they are building an American economy that is built to last – one that is driven by manufacturing, exports and the most talented and productive workers in the world,” added Hochberg.
This is the second order backed by Ex-Im Bank financing for IOC. The locomotives, railroad cars, and mining equipment are being used to expand IOC’s production in Labrador City, Newfoundland.

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 nearly $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.”

$100 MILLION REVOLVING CREDIT FOR SMALL BUSINESSES

The following excerpt is from an Export-Import Bank e-mail:

Ex-Im Bank Establishes $100 Million Revolving Credit Facility for Small Business Exporters  

Ex-Im Bank Chairman Joins President Obama in Seattle for Announcement  

Seattle, Wash. – More small business exporters throughout the United States will have access to revolving credit, thanks to a new product unveiled today by the Export-Import Bank of the United States (Ex-Im Bank). Fred P. Hochberg, the chairman and president of Ex-Im Bank, joined President Obama in Seattle to outline details about the new product: Global Credit Express (GCE).  

“Global Credit Express is an innovative product that will help small business exporters obtain the financing they need to improve their bottom line and succeed in a highly competitive global economy,” said Chairman Hochberg. “This new product will provide additional liquidity for eligible American exporters and access to financing at a reasonable cost.” 

Through GCE, small business exporters may be eligible for a revolving line of credit, up to $500,000 for 6 to 12 months. During the program’s  pilot phase, an initial $100 million in financing will be made available through a select number of lenders nationwide. Following the pilot, the Bank will evaluate the results of this direct loan program and determine whether to increase the available amount. The product is specially designed to finance the business of exporting rather than specific export transactions.

Small business exporters interested in applying for financing through GCE can contact the Bank by calling toll-free to 1-800-565-EXIM (3946) and selecting option 2.  

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. For more information, visit www.exim.gov.

EXPORT-IMPORT BANK HELPS BOEING GET GIANT LOAN

                                 President Barack Obama tapes the weekly address at the Boeing-Everett Production Facility in Everett, Washington, Feb. 17, 2012. (Official White House Photo by Lawrence Jackson)         

The above picture is from the White House website.  The following excerpt is from a U.S. Export-Import e-mail:

“EVERETT, WASH.: The Export-Import Bank of the United States (Ex-Im Bank) announced today that The Boeing Company is participating in the Bank’s Supply-Chain Finance Guarantee program, which provides competitively priced working capital financing to suppliers of goods or services to U.S. exporters.

Ex-Im Bank approved the Boeing supplier program in September 2011 with an initial capacity of $740 million. Ex-Im Bank can guarantee up to 90 percent of that capacity. Citibank N.A. (Citi) will serve as the lender operating the program for Boeing’s suppliers. Boeing joins Caterpillar and Case New Holland (CNH) as exporters currently participating in Ex-Im’s program.

The announcement was made today at an event at Boeing’s manufacturing facility in Everett, Wash., where President Barack Obama called for congressional reauthorization of Ex-Im Bank and announced executive branch initiatives to improve the competitive position of U.S. companies, particularly small businesses.

“Ex-Im is proud to have America's number-one exporter, Boeing, join with us in supporting the company's small-business suppliers in the use of our supply-chain financing product. Eligible companies will be able to more quickly turn their accounts receivable into cash, helping them power more sales and support more American jobs," Ex-Im Bank Chairman Fred. P. Hochberg said today.

“Increasingly Boeing has called on small business to help us in sustaining export-related jobs. The Supplier Financing Program is a great tool to encourage this key growth area to prosper,” said Tom Dillon, Boeing corporate finance director who led the program’s implementation. “Small business can truly join larger exporters in working together to grow much needed jobs supported by demand for American products the world wants.”

Ex-Im Bank’s Supply-Chain Finance Guarantee Program enables suppliers to receive early payment of their accounts receivable that are due from participating exporters, such as Boeing, in exchange for a small discount fee that is paid to the lender. Ex-Im Bank provides a 90 percent guarantee of the invoices while the lender (Citi for Boeing suppliers) bears 10 percent of the risk.

Under the Ex-Im program, approved lenders must have an existing supply-chain finance program. Ex-Im Bank has set a target that at least 50 percent of the credit be extended to suppliers that meet the definition of a small business as defined by the U.S. Small Business Administration by the end of the 12-month term. The end products must be for export and must meet Ex-Im Bank’s requirements for U.S. content.

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. 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. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of its operations.

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.”