EXPORT-IMPORT BANK WILL FINANCE $641 MILLION EXPORT OF REFINERY EQUIPMENT DEAL

FROM:  U.S. EXPORT-IMPORT BANK
Ex-Im Bank Approves $641 Million to Finance the Export 
of U.S. Refinery Equipment to Turkey
Transaction Supports 3,000 Jobs

Washington, D.C. – In a boost for U.S. jobs, the Export-Import Bank of the United States (Ex-Im Bank) has authorized a $640.7 million direct loan to Star Refineri A.S. (Star) of Istanbul, Turkey, that will finance the export of American-made oil refinery equipment and support approximately 3,000 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.

“This important transaction will support the export of cutting-edge American equipment,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Moreover, the transaction will help a vital industry in Turkey and support 3,000 U.S. jobs across America. The growth we see in the energy sector around the globe bolsters jobs here at home.”

The American-made equipment will factor in Star’s construction of an oil refinery in Aliaga, Turkey, approximately 30 miles north of Izmir on the Azean coast. Upon completion in 2017, the refinery will produce crude oil in addition to various other petrochemicals, including naphtha, LPG, and xylenes.

EXPORT-IMPORT BANK REPORTS "U.S. EXPORTS REACH RECORD 192.7 BILLION IN OCTOBER"

FROM:  U.S. EXPORT-IMPORT BANK
U.S. Exports Reach a Record $192.7 Billion in October

Washington, D.C. – The United States exported a record $192.7 billion in goods and services in October 2013, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

“With exports rising and the trade deficit falling, it is clear that President Obama’s National Export Initiative is getting results,” said Export-Import Bank Chairman and President Fred P. Hochberg. “Today’s numbers are a welcome reminder of the importance of exports to the U.S. economy. Ex-Im plays a critical role in insuring that financing will not stand in the way of American businesses closing a sale overseas and creating jobs. And as another record month for American exporters and American jobs shows—the ‘Made in America’ brand remains a top seller.”

October’s figure is slightly larger than the previous high recorded in June, which was revised upward this month to $190.9 billion.

Exports of goods and services over the last twelve months totaled $2.3 trillion, which is 43.1 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 9.8 percent when compared to 2009.

Over the last twelve months, 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 (27.6 percent), Russia (22.3 percent), United Arab Emirates (20.9 percent), Hong Kong (20.7 percent), Peru (20.2 percent), Chile (19.3 percent), Colombia (18.7 percent), Argentina (17.2 percent), Ecuador (16.9 percent), and Saudi Arabia (16.0 percent).

ABOUT EX-IM BANK:

Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 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 $35.8 billion in total authorizations in FY 2012 – an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales – also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country.

EXPORT-IMPORT BANK ANNOUNCES AUTHORIZATION OF EXPORT OF NITROGEN PUMPS TO SINGAPORE

FROM:  U.S. EXPORT-IMPORT BANK
Ex-Im Bank Authorizes Wells Fargo to Lend
for U.S. Small Business Exports to Singapore

WASHINGTON, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) today announced that two small businesses employing 165 workers in Wyoming and Texas are enabled to export about $7 million worth of nitrogen pumps to an energy-industry company in Singapore. Payment was secured for the exporters by medium-term export financing extended by Wells Fargo and guaranteed by Ex-Im Bank. The transaction counts as a first use by Wells Fargo in its capacity as a Medium Term Delegated Authority lender under the MTDA program underwritten by Ex-Im Bank. The MTDA program offers exporters quick access to buyer financing from a network of lenders who have authority to write loans that will be guaranteed by the Bank.

“We’re pleased that a partnership between the Bank and Wells Fargo is supporting this sale of U.S.-made specialty items to Singapore, a gateway to Asia,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “By our delegating lending authority to Wells Fargo, we shorten the process for obtaining guaranteed loans for exports that sustain U.S. jobs. That way, Ex-Im keeps its pledge to provide government services at the speed of business.”

The transaction supports U.S. jobs in four western states. The suppliers to the contract are Compression Leasing Services, Inc., located in Casper, Wyoming, and Generon IGS Inc., headquartered in Houston, Texas. Petroleum and geothermal drilling projects require pipe pressure boosters and an on-site source of nearly pure nitrogen. Generon IGS Inc. plants in Houston and in California manufacture patented modules using fiber membranes for separating nitrogen from air, and for dehydration. The Singapore buyer’s American affiliate, Air Drilling Associates Inc. of Denver, Colorado, employs additional Americans whose jobs are supported by the export sale.

Employees of Wells Fargo likewise benefited when the exporters generated this sale and applied for buyer financing to fulfill the order. Jeramie Maxwell, Wells Fargo’s vice-president for structured trade finance, commented: “This Medium Term Delegated Authority transaction is a first for Wells Fargo, and we look forward to expanding our participation.  This Ex-Im Bank program is a great solution to help U.S. businesses compete in the global marketplace and provides another opportunity for Wells Fargo to support our customer’s international sales growth.  Ex-Im Bank is an important relationship for Wells Fargo and we will continue to partner with them as we strive to support the global needs of our customers.”

Ex-Im Bank’s exposure to Singapore as of the end of fiscal year 2012 amounted to $1.8 billion.

ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that helps to create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 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 a total of $35.8 billion in authorizations in FY 2012 – an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales – also an Ex-Im record. The Bank's authorizations in FY 2012 are supporting an estimated $50 billion in U.S. export sales and about 255,000 American jobs in communities across the country.

EXPORT-IMPORT BANK CHAIRMAN HOCHBERG'S MESSAGE

FROM:  U.S. EXPORT-IMPORT BANK
Message from the Chairman,
Fred Hochberg

Let me begin by telling you how honored I am to have been reappointed by President Obama and confirmed by the Senate for another term as Chairman of the Export-Import Bank. After a strong, bipartisan vote, I look forward to working with the excellent team here at Ex-Im on behalf of American exporters, supporting jobs here at home through sales abroad. And I look forward to working with all of you.

As we continue our economic recovery, exports continue to play a key role. Over the past four years, Ex-Im Bank’s financing has supported nearly one million American jobs and helped thousands of small businesses expand their reach into international markets.  The Bank also delivered more than $1 billion to the U.S. Treasury during this period at no cost to American taxpayers.

Moving forward, all of us at Ex-Im will continue to work with members of Congress, our Board and customers to ensure that America’s workers, small business owners, and exporters have access to the financing they need.  We’ll work to ensure America’s exporters are able to compete on a level playing field and sell their products and services around the world.

Aside from the confirmation proceedings, it’s been an eventful three months here at Ex-Im. I would like to update you on our latest results.

Following fiscal year 2012’s record results, Ex-Im is on track for another productive year—thanks to America’s dynamic exporting community.  Authorizations in our April-June quarter were $6 billion, for a total of $21.7billion for the year to date.  More important, our financing supported 165,000 export-related American jobs so far this year in communities across the country.  Our total exposure is nearly $110 billion.

The Bank’s year-to-date authorizations have declined relative to the same period last year from $23.8 billion to $21.7 billion, a promising trend that illustrates the renewed lending activity of commercial banks in the wake of the financial crisis. Our transportation authorizations, for instance, will be down overall as commercial banks re-enter commercial-aircraft financing, though our support for general aviation and helicopters has increased as we have diversified our portfolio.  Mining, which has traditionally played a large role, will decrease as well due in large part to slower global demand for commodities. However, our authorizations for satellite and manufacturing deals are up this year.  We’ve done more transactions this year than in FY 2012, but our ticket sizes are smaller. While commercial banks are stepping back into the breach, we’re still needed to do the tougher, more complicated deals.

And if you allow me to brag a little, we won three prestigious awards:

Trade Finance magazine named Ex-Im “Best Global Export Credit Agency” for the second time and, for the fourth consecutive time, “Best ECA in the Americas.”  Besides that, Trade Finance recognized Ex-Im for our participation in six “Deals of the Year.”
Two weeks later, London’s Trade and Forfaiting Review named us “World’s Best Export Credit Agency” for our support for exports and innovative deals.
AirFinance Journal recognized Ex-Im for four 2012 aviation “Deal of the Year” awards – each of them financed by our innovative Bank-guaranteed bonds, one of our most successful innovations in recent years.
We’ve achieved these results without any significant increase in staff, instead creating new financial products to meet the unique needs of our exporters competing in today’s global economy.  For example, our innovative Global Credit Express program for short-term working capital loans to small exporters continues to grow rapidly.  We’re having great success with our capital markets initiative that issues large, long-term guaranteed bonds for export sales like commercial aircraft.

I was also pleased that President Obama recently nominated Ex-Im Bank Vice Chair Wanda Felton for a second term here.  Among her accomplishments, she’s been a driving force behind our successful expansion of financing exports to Sub-Saharan Africa.  We look forward to her timely confirmation by the Senate.

Sadly, Director Larry Walther left the Bank earlier this month after two years of outstanding service as a member of our Board of Directors.  Larry is a seasoned pro in trade finance and promotion here and in his beloved Arkansas, where he returns for some well-earned relaxation.

None of these successes would have been possible without the creativity, hard work and dedication of Ex-Im staff – in support of our exporters who continue to sell world-class goods and services to buyers in over 150 countries.  You are a great team, and I’m proud to work with you.

Sincerely,
Fred P. Hochberg

TENNESSEE SMALL BUSINESS TO BENEFIT FROM EXPORT-IMPORT BANK PARTNERSHIP

FROM: U.S. EXPORT-IMPORT BANK

State’s Small Business Exporters, Workers to Benefit from New Ex-Im Partnership with Tennessee SBDC International Trade Center

Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) has signed a City/State Partnership with the Tennessee Small Business Development Center (SBDC) International Trade Center with a view to bolstering Tennessee jobs by stimulating Tennessee exports.


"Ex-Im Bank’s partnership with the Tennessee SBDC will help keep ‘Rocky Top’ businesses at the top," said Ex-Im Bank Chairman and President Fred P. Hochberg. "The partnership will bring foreign markets within reach of Tennessee businesses and support thousands of local small-business jobs."

The Tennessee Small Business Development Center (TSBDC) program is headquartered at Middle Tennessee State University and offers 20 locations throughout the state, 14 of which are service centers, five satellite offices, and one an affiliate office. The program is part of the United States Small Business Administration’s largest grant funded service network and provides quality customer service to the small-business community. The Trade Center located at Tennessee State University manages the SBDC Export Assistance Program.

The SBDC Program is designed to provide high-quality business and economic developmental assistance to small businesses in order to promote growth, expansion, innovation, increase productivity, and improve management skills.

Commenting on the importance of the State Partnership with Ex-Im Bank, Patrick Geho, State SBDC executive director said, "From Ex-Im Bank’s Export Credit Insurance to their Global Express Loan, both current Tennessee exporters and new-to-export companies now have the financial keys to access the global marketplace successfully…and we (the SBDC) are committed to helping Tennessee business owners access Ex-Im Bank’s financial programs."

The City/State Partners program seeks to expand access to the Bank's export finance programs to more small and medium-sized business through the help of local, state, and regional economic development and business support organizations.

EXPORT-IMPORT BANK FINANCES MONGOLIAN MINE WITH $500 MILLION LOAN

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Approves $500 million to Finance U.S. Exports
for Use in Mongolian Mine
Transaction will support 2,000 Jobs Across Several States

Washington, D.C. – The board of the Export-Import Bank of the United States (Ex-Im Bank) has voted to authorize an approximately $500 million direct loan to finance the continued development of a Mongolian mine that upon completion will generate approximately 30 percent of the Mongolian GDP.


Additionally, Ex-Im Bank’s financing will support approximately 2,000 U.S. jobs across the United States, according to Bank estimates derived from Departments of Commerce and Labor data and methodology.

"This transaction will not only support good jobs and bolster our economy here in America, it will also provide a lift to the Mongolian economy and directly impact the country’s GDP," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Moreover, by using American-made products in this large project, the financing will support thousands of U.S. jobs in states like Arizona, Colorado, Illinois, New York, and Texas. This transaction is even more proof of the value of exports in continuing to help the U.S. economy grow."

The Oyu Tolgoi mine, which is located in the South Gobi region approximately 550 kilometers south of the the capital city Ulaanbaatar, is an open-pit and underground copper mine that will produce concentrate containing copper, gold, and silver. Once developed, the mine will rank as one of the largest copper mines in the world. It will also count as one of the most important capital projects in Mongolia.

The mine is operated by Oyu Tolgoi LLC, which is jointly owned by Turquoise Hill Resources Ltd. of Canada and Erdenes Oyu Tolgoi LLC of Mongolia. Leading global mining company Rio Tinto holds a majority stake in Turquoise Hill.

Ex-Im Bank has worked closely with the other lenders and sponsors to ensure that the project was planned to minimize the impacts on the local residents and environment in compliance with Ex-Im Bank’s strict Environmental Procedures and Guidelines and Mongolian law.

One U.S. small business that will benefit from the project is CC Solutions LLC, a Yonkers, N.Y.-based company that is a specialist in export credit agency administration. The company’s proprietary software, MTS, has processed nearly $1 billion in Ex-Im Bank disbursements across the world.

"The financing of this and other projects by Ex-Im Bank has allowed our company to provide high-value professional services, leading to permanent and partial employment for five people in the United States," said Valerie Colville, principle of CC Solutions. "The Mongolian economy will benefit tremendously from the development of the Oyu Tolgoi project. Significant mineral deposits will be recovered in a responsible and environmentally-sound manner, and the proceeds will be used for the human and social development of the people of Mongolia."

EX-IM BANK SAYS U.S. EXPORTED $186 MILLION GOODS AND SERVICES IN FEBRUARY

FROM: U.S. EXPORT-IMPORT BANK
U.S. Exports Total $186 Billion in February;
Exports During Past Year Hit $2.2 Trillion

WASHINGTON, D.C. — The United States exported $186.0 billion of goods and services in February 2013, an increase from January’s exports of $184.4 billion, according to data released Friday by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

"The many successful small- and mid-sized businesses attending last week’s Ex-Im annual conference demonstrated that growing sales and profits in today’s global economy is possible by selling to the 95 percent of the world’s customers located outside the United States", said Ex-Im Bank Chairman and President Fred P. Hochberg. "Export growth remains a vital component of the nation’s economic recovery, and Ex-Im will continue to provide export credit support to American entrepreneurs as they expand their reach to buyers outside our borders."

Hochberg noted that during the first six months of FY 2013 Ex-Im Bank export credit authorizations were strong, amounting to $14.8 billion, supporting over 100,000 U.S. jobs and exceeding the Bank’s authorizations in all of 2008.

U.S. exports of goods and services over the last twelve months totaled $2.2 trillion, which is 39.7 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 11.1 percent when compared to 2009.

Over the last twelve months, 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, occurred in Panama (31.8 percent), Russia (25.1 percent), Chile (24.4 percent), United Arab Emirates (23.6 percent), Peru (23.4 percent), Venezuela (22.5 percent), Argentina (21.9 percent), Hong Kong (20.6 percent), Colombia (20.7 percent), and Turkey (20.3 percent).

EXPORT-IMPORT BANK ENTERS PARTNERSHIIP WITH STATE OF ILLINOIS TO BOOST JOBS

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Bank Partners With Illinois Trade Center Network, Multiplies Access to Export Financing

WASHINGTON, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) has entered a new marketing partnership with the state of Illinois in order to help Illinois businesses boost export sales and jobs. Ex-Im Bank’s City/State Partnership with the Illinois Department of Commerce and Economic Opportunity (DCEO) gives thousands of exporters, especially small businesses, access to information about the Bank’s resources.

The partnership is expected to accelerate export business and job growth by connecting Bank products and services to a statewide network of Small Business Development Centers (SBDCs) and International Trade Centers (ITCs), where entrepreneurs meet export finance counselors and learn how to grow their businesses.

"Ex-Im Bank has a lot to offer Illinois businesses that want to grow their exports, and this partnership will put Ex-Im’s financing benefits on display for them," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Owners of small and medium-size businesses already come to Illinois export centers to improve their understanding of export trade; now they will find Ex-Im Bank resources in the same place. There they can learn about Express Insurance and other cost-effective tools the Bank offers. We trust this new connection will support increased sales and job growth in Illinois."

Ex-Im Bank’s City/State Partnership with international trade educators and business experts in Illinois aims to build upon existing successes there. Twelve International Trade Centers are associated with SBDCs located in Illinois, mostly on university campuses. Although a correlation between ITC services and increased exports remains to be proved, the ITCs uniquely focus expertise upon how export businesses start, grow, and gain profits. Export sales growth from Illinois over the past four years has exceeded the national average, increasing by 63 percent compared to the nation’s average 47 percent. In 2012, direct exports accounted for ten percent of the Gross State Product.

"We are committed to helping our small and medium-sized businesses in Illinois gain access to capital to expand to markets outside the U.S.," said Adam Pollet, DCEO director. "Small businesses are driving economic growth in Illinois and this partnership with Ex-Im Bank will give small businesses the additional support they need to export globally."

The purpose of the City/State Partners program is to ensure that the Bank’s export finance programs are more accessible to small and medium-sized business through the help of local, state, and regional economic development and business support organizations. Each City/State Partner pledges to make financing assistance and entrepreneurial services available to local businesses in order to create, promote, and expand enterprises that export. Partners – whether governmental entities or non-profit organizations - explicitly recognize exporters as key supporters of U.S. jobs. Ex-Im Bank in turn provides its Partners with free marketing and training materials, qualified finance experts to speak at Partners’ events, assistance with outreach and counseling, and access to a network of lenders, insurance brokers, and U.S. Government export resources.

Through its City/State Partnership with Illinois, Ex-Im Bank offers to Illinois enterprises expanded access to products such as its Global Credit Express, which helps exporters acquire low-cost working capital up to $500,000, as well as Express Insurance, which simplifies small business access to export credit risk insurance on their foreign accounts receivable. The Bank has designed an array of low-cost loans, guarantees, export credit insurance, and supply-chain financing structures to enable both small and large businesses to export globally without fear of nonpayment.

Besides its new IL DCEO-SBDC-ITC Partnership, the Bank cooperates with two other City/State Partners in Illinois: Global Midwest Alliance LLC, and the Chicago Trade Accelerator, organized by World Business Chicago. The Trade Accelerator was inaugurated February 18 in a joint announcement by Ex-Im Bank Chairman Fred Hochberg and Chicago Mayor Rahm Emmanuel.

ABOUT EX-IM BANK:

Ex-Im Bank is an independent federal agency that helps to create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 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 a total of $35.8 billion in authorizations in FY 2012 – an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales – also an Ex-Im record. The Bank's authorizations in FY 2012 are supporting an estimated $50 billion in U.S. export sales and about 255,000 American jobs in communities across the country.

EXPORT-IMPORT BANK CHAIRMAN COMPLETS MISSION TO MEXICO

FROM: U.S. EXPORT-IMPORT BANK

Ex-Im Bank Chairman Hochberg Concludes Successful Business Development Mission in Mexico City
Chairman Encourages Mexican Businesses to "Buy American"

Mexico City, Mexico: Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States (Ex-Im Bank), concluded a successful business-development mission in Mexico March 13 – March 15. During his visit, Hochberg met with local businesses and government leaders to promote Ex-Im Bank financing. The Bank’s financing helps support the purchase of U.S. goods and services by Mexican buyers.

"As our nation’s leading trading partner and Ex-Im Bank’s top customer, Mexico provides enormous opportunities for American businesses and workers," said Hochberg. "I am pleased with the outcome of our meetings and look forward to continuing to work with our partners in Mexico on projects that boost our nations’ economies and create jobs on both sides of the border."

"With bilateral trade of over half a trillion dollars in 2012, Mexico is our second-largest export market and our third-largest source of imports," Ambassador Wayne said. "Supply chains are integrated across the border and thousands of jobs on both sides of the border depend on smooth, open bilateral trade. I am grateful for Chairman Hochberg’s visit and to our Mexican government and private sector counterparts for looking for new ways to build on our strong economic partnership."

While in Mexico City, Hochberg met several business and financial leaders, including Enrique de la Madrid Cordero, director of Bancomext; Carlos Slim Domit, chairman of board, Grupo Carso; Andrés Conesa, chairman of AeroMexico; Eduardo Tricio, chairman of Grupo Industrial Lala; Claudio X. Gonzalez, chairman of Consejo Mexicano de Hombres de Negocios; Alejandro Alonso, CEO of Aerolineas Ejecutivas; Emilio Lozoya Austin, director general of PEMEX; Francisco Rojas, director of CFE; Agustin Carstens, governor of Mexico´s Central Bank; and Luis Videgaray, secretary of Hacienda, Ministry of Treasury.

Mexico is one of nine key markets (others are Brazil, Colombia, Turkey, South Africa, Nigeria, India, Indonesia and Vietnam) where Ex-Im Bank is focusing its business-development efforts because of the country's infrastructure and development needs. Mexico is currently the largest market exposure in Ex-Im's portfolio ($8.5 billion in FY’12).

EXPORT-IMPORT BANK APPROVED LOAN TO HONDURAN POWER COMPANY FOR $28.6 MILLION

Map: Honduras. Credit: CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK
U.S. Exports Will Expand Wind Farm in Honduras:
Ex-Im Bank Supports 200 Jobs in Six States

WASHINGTON, D.C. – Two hundred Pennsylvanian workers will assemble twelve high-tech wind turbines for export, because the Export-Import Bank of the United States (Ex-Im Bank) approved a $28.6 million direct loan to a Honduran power company. The transaction helps to expand a project first supported by the Bank in 2010, when its long-term financing of 51 U.S.-built turbine generators established the Cerro de Hula Wind Farm in Santa Ana, Honduras. The project developer and borrower, Energía Eólica de Honduras S.A., will sell the electricity to the Central American nation’s utility, Empresa Nacional de Energía Eléctrica.

"Building on the success of this impressive project, Ex-Im Bank is demonstrating the importance of its role to fill gaps in financing for creditworthy borrowers," explained Fred P. Hochberg, chairman and president of Ex-Im Bank. "With this project, we’ve achieved an impressive win all around: for exporters, for U.S. workers, and for energy consumers in Honduras, because the wind-driven generators cost less to operate than their equivalent in fossil-fueled equipment."

Gamesa Wind US, LLC, a technology firm based in Trevose, Pennsylvania, will manufacture and export six each of its high-efficiency model G87 and G-97, 2.0 MW turbines to generate electric power in rural Honduras. Gamesa operates two facilities in the U.S., a blades factory in Ebensburg, near Johnstown, and a nacelle plant outside Philadelphia. In 2011, Gamesa was named Ex-Im Bank’s "Renewable Energy Exporter of the Year." Other U.S. exporters involved in the project will also benefit. They include engineering contractors, financial and legal advisors, and represent jobs in the states of Massachusetts, New York, Oklahoma, Oregon, and Texas.

The Cerro de Hula Wind Farm now produces about six percent of the electrical power in Honduras. With the additions from this transaction, the wind farm will have 63 wind turbines and a total installed capacity of 126MW providing power to the national electric utility.

"The Americas are still far from realizing the full potential of a clean energy economy," said Gamesa North American chairman David Flitterman. "But at Gamesa, we’re proud to manufacture American-made wind turbines that get shipped from our U.S. plants to countries far and wide. While the U.S. wind industry slowly is recovering after late renewal of the U.S. Production Tax Credit in January, thanks to Ex-Im Bank these export projects are creating new business opportunities in emerging markets, and are supporting good-paying jobs throughout the entire supply chain."

The exporter is a technology firm with manufacturing operations in Pennsylvania, and is a subsidiary of Gamesa Technology Corporation, a sustainable-energy concern headquartered in northern Spain. It ranks as the fourth-largest manufacturer of wind turbines and is in the top ten globally for wind farm development. Gamesa builds photovoltaic power stations and wind farms on land and off-shore. Although the parent company is Spanish, Ex-Im Bank provides financing only for goods and services associated with production by U.S. workers.

EX-IMPORT BANK NAMES "MOST INNOVATIVE BUSINESS JET FINANCIER 2013"

Photo:  Money.  Credit:  U.S. Navy. 

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Bank and AirFinance Named Corporate Jet Investor’s "Most Innovative Business Jet Financier 2013"

WASHINGTON, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) and AirFinance have been awarded "Most Innovative Business Jet Financier 2013" by the Corporate Jet Investor Web site in recognition of Ex-Im Bank’s Qualified Advisor program.

The award was announced at the International Corporate Jet & Helicopter Finance 2013 Conference held recently in London, U.K. The awards were determined by a vote taken among a select group of business-jet manufacturers and other industry lenders prior to the conference, which was sponsored by Corporate Jet Investor.

"We are honored to receive this award from manufacturers and other leaders in the business-jet and helicopter industry. This vital part of the U.S. aerospace sector provides thousands of American manufacturing jobs," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Financing these exports requires complex structuring, specialized knowledge and experience. By working with partners such as AirFinance, our Qualified Advisor program is enabling us to leverage private-sector expertise to offer timely financing to increase support for these exports. I congratulate Ex-Im Bank’s staff on this achievement."

"As a qualified advisor, AirFinance works with Ex-Im Bank to develop an innovative structure and combines it with ongoing monitoring processes that increase protections against credit losses," said AirFinance Managing Partner Tom Low. "This partnership merges the protection and stature of the U.S. government with the speed and creativity of business-jet and helicopter experts to provide a financial solution that is beneficial for the single purchase of a small aircraft to a large aircraft fleet order."

In 2012, Ex-Im Bank developed and implemented the Qualified Advisor program, a process to address the increased demand for export credits for business aircraft and helicopters arising from the growing percentage of U.S.-manufactured aircraft being sold to foreign buyers. The goal of the process is to facilitate a more complete and comprehensive transaction package being submitted to Ex-Im Bank in order to expedite the application, approval and closing process for foreign borrowers in business-aircraft transactions. Using qualified advisors also provides enhanced credit structures, resulting in additional credit protections for Ex-Im Bank.

The process is designed to benefit manufacturers that can now designate one or more advisors to work with their foreign buyers. The process is available through any advisor that has demonstrated the requisite knowledge, experience and expertise with business-aircraft financing.

AirFinance is a global company focused on the financing of general-aviation aircraft, including business jets, turboprops and helicopters, with an emphasis on transactions outside of the United States. AirFinance and Cessna Finance Corp. are the two finance companies with a focus on general aviation that are approved qualified advisors under Ex-Im Bank’s program.

Corporate Jet Investor is an international Web site developed to help both individuals and companies that buy business jets, corporate aircraft and helicopters find financing to suit their needs. Corporate Jet Investor also helps financiers understand assets, legal and tax risks, and identify new opportunities in developing markets.

'EXPRESS INSURANCE' ALLOWS COMPANY TO EXPORT PICKLES TO CHINA

Credit:  Wikimedia Commons.

FROM: U.S. EXPORT-IMPORT BANK
North Carolina Small Business Grows Sales of Pickles in China,
Becomes Ex-Im Bank’s 500th ‘Express Insurance’ Customer

Washington, D.C. --- With the export financing support of the Export-Import Bank of the United States (Ex-Im Bank), a small North Carolina food manufacturer will be significantly increasing sales of its signature "Miss Jenny’s Pickles" to stores in Mainland China. The sales increase is being made possible as the company that produces them, Old Orchard Foods, LLC, becomes the 500th small business using the Bank’s ‘Express Insurance’ product.

Old Orchard was started in January, 2010 by two self-described "burned-out" stockbrokers, Jenny Fulton and her former sales assistant, Ashlee Furr. In just three years the company’s pickles are being sold in 1,000 stores in the United States, and now 40 stores in China.

"The Miss Jenny’s Pickles success story is one that is being repeated all across the country," Ex-Im Bank Chairman and President Fred P. Hochberg said. "Jenny Fulton and her business partner are great role models for what can be accomplished by smart, energetic and dedicated entrepreneurs. They and many other small-business exporters who use Express Insurance are discovering that they can seize opportunities to sell overseas, grow their sales and make sure they are paid by using export finance products that Ex-Im Bank offers."

Fulton says she expects Ex-Im Bank’s Express Insurance product to result in her sales to China increasing about 400 percent. And she plans to soon expand into Canada as well.

"Ex-Im Bank’s export-credit insurance enables us to offer terms to our foreign buyers, so they don’t have to pay for the whole order at once," Fulton said. "Our export sales have permitted us to hire our first full-time and four part-time employees, and with the new orders from China supported by Ex-Im’s Express Insurance we hope to turn those part-time jobs into full-timers by the end of the year."

Fulton was inspired to seek export opportunities after hearing a presentation by Ex-Im Bank Chairman Hochberg during one of the Bank’s "Global Access for Small Business" forums. Her experience that day was later recounted during a segment of the CBS-TV News program, "60 Minutes."

Express Insurance, a product launched in April 2011, provides small businesses with a user-friendly and cost-effective option to protect against foreign-buyer nonpayment and enhance access to working capital financing because banks are more likely to lend to companies if their foreign accounts receivable are insured. The policy features a streamlined application, complimentary policy quotation, foreign-buyer credit reports and buyer credit-limit pre-approvals often in five working days.

Old Orchard Foods is based in Kernersville, North Carolina, a town of just over 23,000 people located ten miles from Winston-Salem, North Carolina. Global Business Solutions, Inc., an export-credit insurance broker based in Winston-Salem, explained how the policy works and helped Old Orchard during the policy acceptance process.

CALIFORNIA COMPANIES CALLED ON TO GAIN EDGE IN GLOBAL ECONOMY WITH EXPORTS

Photo:  Containerships In Suez Canel.  Credit:  Wikimedia Commons.

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Bank Chairman, Congressman Schiff Call on California Companies to Export and Gain Competitive Edge in Global Economy
Forum focuses on how businesses can increase foreign sales, move state economy forward

Los Angeles, Calif. -- Today Export-Import Bank Chairman Fred P. Hochberg and Congressman Adam Schiff (CA-28) hosted an exporter forum for local small and medium-sized businesses in downtown Los Angeles. More than 100 representatives from local companies attended the event, which focused on how American companies can gain a competitive edge and grow their business when exporting their products overseas. Local small businesses also received one-on-one trade counseling from Export-Import Bank experts.

"I am pleased to be here today with Congressman Schiff to highlight the benefits of exporting," said Chairman Hochberg. "Exports create and sustain U.S. jobs, and Ex-Im Bank will continue to host forums across the country that encourage small and medium-sized businesses to take advantage of foreign sales opportunities. Los Angeles businesses have much to gain from such opportunities, and we are confident that today’s forum will provide them necessary tools to sell their great exports around the world."

"I was delighted to see so many business people gather to hear presentations on how to improve their exports," said Representative Schiff. "Expanding American exports is a key ingredient in improving our economy, growing jobs and competing in a global environment. I want to see America become a manufacturing and exporting powerhouse again, and I will be doing everything I can to help our local businesses grow and thrive."

During the forum, Chairman Hochberg gave an overview of Export-Import Bank's Global Access for Small-Business initiative, aimed at increasing the number of small businesses across the United States that export goods and services produced by U.S. workers. This is an integral part of the President’s National Export Initiative (NEI) to double U.S. exports by 2015.

In FY’12, Ex-Im Bank authorized more than $2.3 billion for California businesses, with more than 20% going to small businesses.

Global Access is supported by a wide variety of business, financial and government partners, including the U.S. Chamber of Commerce, the National Association of Manufacturers (NAM), and the Bank’s 60-plus city/state partners located throughout the U.S. Export-Import Bank has hosted more than 40 Global Access forums around the country.

U.S. EXPORT-IMPORT BANK TO FINACE EXPORT OF AIRCRAFT TO RUSSIA

Peter And Paul Fortress.  Credit:  CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Approves more than $500 million to Finance Export of U.S. Aircraft to Russia

Washington, D.C. – The board of the Export-Import Bank of the United States (Ex-Im Bank) voted to guarantee a loan of more than $500 million provided by Apple Bank for Savings to OJSC VEB Leasing (VEBL) of Moscow for the export of a fleet of Boeing 777 aircraft to Russia to be operated by Aeroflot Russian Airlines (Aeroflot).


Boeing delivered the first of the aircraft earlier this month.

Ex-Im Bank’s financing will support approximately 3,200 U.S. jobs, according to Bank estimates derived from Departments of Commerce and Labor data and methodology.

"The transaction showcases once again the wealth of opportunities for U.S. exporters in Russia," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Moreover, the aircraft sale will support thousands of high-paying American jobs and provide Aeroflot with a top-of-the-line product."

VEBL, a subsidiary and leasing arm of the state-owned Vnesheconombank Group (VEB), will lease the aircraft to Aeroflot. It is the largest leasing company in the Russian Federation both in terms of its existing lease portfolio and new business volume. In line with VEB’s mandate, VEBL aims to increase the competiveness and diversification of the Russian economy and promote investment activity in key industries. Its portfolio is diversified over a number of different sectors, including, aviation, rail, sea and river vessels, heavy machinery, and automobiles.

"Aircraft financing is one of the main business activities of Vnesheconombank," said Vnesheconombank Deputy Chairman and Member of the Board Alexander S. Ivanov. "With this transaction we are happy to step into a promising and mutually beneficial partnership with Ex-Im Bank in this field."

Aeroflot, also of Moscow, is the flag carrier and largest airline of the Russian Federation. The company, which dates back to 1923, boasts one of the youngest fleets in Europe and is a member of the SkyTeam Alliance, which was founded by Delta Air Lines, Aeroméxico, Air France, and Korean Air. The new acquisition of the aircraft will contribute to the airline’s fleet renewal and route-network expansion. Additionally, the Aeroflot aircraft will share routes and flights with other members of the SkyTeam Alliance as part of the Alliance’s codeshare agreement.

"Boeing is very pleased that Aeroflot becomes Russia’s first airline to add the 777-300ER to its fleet," said Marty Bentrott, Boeing Commercial Airplanes sales vice president for the Middle East, Russian and Central Asia. "Russia is an important and growing market for aviation and aircraft financing. Ex-Im Bank's innovative financing structuring in this transaction facilitates Aeroflot selecting U.S.-built airplanes to help it succeed, while supporting U.S. exports and sustaining good-paying, high-skilled American aviation manufacturing jobs."

U.S. EXPORTS REACH NEW ANNUAL RECORD OF NEALY $2.2 TRILLION

FROM: U.S. EXPORT-IMPORT BANK
U.S. Exports Reach $186.4 Billion in December, Rise to Record Annual Total of Nearly $2.2 Trillion in 2012

WASHINGTON, D.C. — The United States exported $186.4 billion in goods and services in December 2012, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

U.S. exports of goods and services in 2012 reached a record annual total of nearly $2.2 trillion ($2.195 trillion), which is 39.1 percent above the level of exports in 2009. Over the past 12 months, exports have been growing at an annualized rate of 11.6 percent when compared to 2009.

"Today’s record-breaking numbers show that U.S. exports in 2012 continued on a historic path of growth," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Thanks to the hard work and ingenuity of our exporters, America is making steady progress towards meeting President Obama’s National Export Initiative goal of doubling exports. Over the past year, U.S. companies big and small have exported almost $2.2 trillion worth of goods and services, fueled by the power of American innovation."

"But we cannot stop here. More can and must be done to increase international sales and create jobs in the United States. Through our nationwide Global Access for Small Business initiative, Ex-Im Bank is reaching out locally to more small and medium-sized businesses to provide them with the export financing and training they need to succeed globally," Hochberg said.

Over the last 12 months, 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, occurred in Panama (52.0 percent), Chile (42.2 percent), Russia (41.4 percent), Peru (37.9 percent), Venezuela (37.6 percent), Argentina (36.2 percent), United Arab Emirates (36.0 percent), Hong Kong (33.4 percent), Turkey (32.9 percent) and Columbia (31.7 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 (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 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 nearly $35.8 billion in total authorizations in FY 2012 – an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales – also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country.

U.S. EXPORT-IMPORT BANK GUARANTEES LOAN TO FINANCE SOLAR-MODULE EXPORTS TO MEXICO

One of the smaller step pyramids at the massive archaeological site of Teotihuacan (approximately 40km or 25mi northeast of Mexico City). Credit: CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Bank Approves $780,000 Loan Guarantee To Finance U.S. Solar-Module Exports to Mexican Rooftop Solar-Power Project

WASHINGTON, D.C. -- A U.S. solar-module manufacturer and a Mexican company are both benefiting from the support of the Export-Import Bank of the United States (Ex-Im Bank). In a recently approved transaction, Ex-Im Bank will guarantee a $780,000, 10-year loan to be made by UPS Capital Business Credit to finance the export of photovoltaic (PV) solar modules from Suniva Inc. in Norcross, Ga., to a rooftop solar-power project of Grupo Metal Intra S.A.P.I. de C.V. (GMI). GMI is a leader in Mexico’s prefabricated-building industry.

The transaction is being made possible by utilizing medium-term buyer financing that is available to support smaller-scale renewable-energy projects in Mexico and in most other countries.

"With this authorization, Ex-Im Bank is continuing its strong support for Suniva’s high-efficiency exports that are sustaining high-quality jobs in Georgia," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Our financing also benefits GMI, which will reap clean-energy savings for years to come. We hope to support many more such projects in Mexico and around the world."

Another GMI company, Intragreen Tecnología Sustenable, S.A.P.I. de C.V., will integrate the solar project and act as the provider of local services, including the project’s installation and connection to the grid. Ex-Im Bank’s medium-term guarantee will also support approximately $130,000 of related local costs.

The 500-kilowatt roof-top solar power project will be placed on the roof of GMI’s main production plant in the city of Querétaro. The project will be one of the largest rooftop solar-energy facilities in Mexico.

Since 2007, Suniva has used Ex-Im Bank’s buyer financing and working capital guarantees to support its exports to global markets that include Europe, India, Mexico and other countries in Latin America. Ex-Im’s financing has helped to sustain 190 jobs at Suniva’s manufacturing facility in Norcross, Ga.

"Suniva is very proud to partner with a leading and visionary organization like GMI/Intragreen in Mexico," said Suniva Chairman and CEO John Baumstark. "It is most fitting that the first major export and installation of our modules in Mexico is utilizing a guarantee from the U.S. Export-Import Bank with which we have a longstanding and valuable relationship."

"GMI has a long history of innovation and leadership in construction technology. Through our Intragreen subsidiary, we are continuing that tradition in renewable energy. We are grateful that Suniva, UPS Capital and Ex-Im Bank have joined us as a vital part of that vision," said Oscar Peralta Navarrete, chairman of the board of GMI.

Suniva’s technology was selected due to its high-efficiency rate of more than 16 percent at the module level that produces more power on limited surface areas. Suniva is also providing racking and inverters. The solar project is expected to generate 50 percent of GMI’s electricity needs and reduce GMI’s overall energy costs by at least 15 percent annually. GMI estimates that the energy savings will repay the investment in the solar panels in about seven years, while reducing CO2 emissions by approximately 677 tons per year.

Suniva is a U.S. manufacturer of high-efficiency crystalline silicon photovoltaic (PV) solar cells and high-power solar modules. Headquartered in the metropolitan Atlanta area, Suniva sells its advanced PV cells and modules globally. The company evolved from the work of Dr. Ajeet Rohatgi at the University Center of Excellence for Photovoltaics Research and Education (UCEP) at the Georgia Institute of Technology.

FINANCIAL CONSULTANT EXTRADITED TO U.S. FOR ALLEGED SCHEME TO DEFRAUD EXPORT-IMPORT BANK

FROM: U.S. DEPARTMENT OF JUSTICE
Friday, January 25, 2013
Financial Consultant Extradited to the United States for Alleged Scheme to Defraud the U.S. Export-import Bank

Manuel Ernesto Ortiz-Barraza, an independent financial consultant, was extradited to the United States today for his alleged role in a scheme to defraud the Export-Import Bank of the United States (Ex-Im Bank) of over $2.5 million, announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division, U.S. Attorney for the Western District of Texas Robert Pitman and Osvaldo L. Gratacos, Inspector General of the Ex-Im Bank.

Ortiz-Barraza, 56, was charged in an indictment unsealed on Oct. 19, 2011, in the Western District of Texas with one count of conspiracy to commit wire and bank fraud, three counts of wire fraud and one count of bank fraud for his alleged role in a scheme with several others to defraud the Ex-Im Bank. Based on a provisional arrest warrant, Mexican authorities arrested Ortiz-Barraza in Mexico on Feb. 13, 2012, and he has been awaiting extradition to the United States, a process which was recently finalized by the Mexican courts.

According to the U.S. indictment and court documents, Ortiz-Barraza and his co-conspirators allegedly conspired to obtain Ex-Im Bank guaranteed loans through banks by creating false loan applications, false financial statements and other documents purportedly for the purchase and export of U.S. goods into Mexico. Ortiz-Barraza and his co-conspirators allegedly falsified shipping records to support their claims of doing legitimate business and did not ship the goods that were guaranteed by the Ex-Im Bank. After the loan proceeds were received, Ortiz-Barraza and his co-conspirators allegedly split the loan proceeds among themselves. As a result of the alleged fraud, the conspirators’ loans defaulted, causing the Ex-Im Bank to pay claims to lending banks on a loss of over $2.5 million.

The charges and allegations contained in the indictment are merely accusations and the defendants are presumed innocent unless and until proven guilty.

The Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing. The Ex-Im Bank provides a variety of financing mechanisms to help foreign buyers purchase U.S. goods and services.

The case is being prosecuted by Senior Litigation Counsel Patrick Donley and Trial Attorney William Bowne of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Steven Spitzer of the Western District of Texas, El Paso Division. The case was investigated by the Ex-Im Bank Office of Inspector General, Homeland Security Investigations in El Paso, under the leadership of Acting Special Agent in Charge Dennis Ulrich; Internal Revenue Service-Criminal Investigation in Washington, D.C., under the leadership of Special Agent in Charge Rick A. Raven; and the U.S. Postal Inspection Service in Washington, D.C., under the leadership of Inspector in Charge Daniel S. Cortez. Substantial assistance was provided by the U.S. Marshals Service and the Criminal Division’s Office of International Affairs in Washington, D.C. The Department of Justice is particularly grateful to the government of Mexico for their assistance in this matter.

U.S. EXPORT-IMPORT BANK GUARANTEES $87.1 MILLION FOR EXPORT OF SATELLITES TO SPAIN

Credit:  NASA.

FROM: U.S. EXPORT-IMPORT BANK

Ex-Im Approves $87.1 Million Guarantee to Finance Export
of American-made Satellite to Spain

Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) has authorized an $87.1 million guarantee of a loan extended by Crédit Agricole and other European lenders to Hispasat Canarias S.L.U., a Hispasat S.A. (Hispasat) subsidiary based in Madrid, Spain, that will finance the assembly and purchase of a satellite to be manufactured by Orbital Sciences Corporation (Orbital) of Dulles, Va.

The guarantee, which is Ex-Im Bank’s third transaction with Hispasat, will support approximately 600 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.


"This transaction is yet another example of our commitment to support high-tech jobs throughout America," said Ex-Im Bank Chairman and President Fred P. Hochberg. "The ‘Made in America’ brand is second to none, and it is our job to ensure it always has an equal footing with competitors in the international market."

Established in 1989, Hispasat is the fourth largest western European satellite operator and the eighth largest operator in the world. It currently manages a constellation of seven active satellites and plans to expand its fleet.

The Amazonas-4A satellite, a Ku-band satellite equipped with 24 transponders, is expected to launch in 2014 and will occupy the company’s orbital slot over Brazil. It will provide coverage to the Americas and respond to the increasing demand of direct-to-home and high-definition television broadcasts.

Orbital Sciences Corporation was founded in 1982 and specializes in designing, building, testing and operating small- and medium-size satellites, rockets and other space systems. The company provides its space systems products to commercial customers, such as Hispasat, as well as to U.S. government agencies, including NASA, the Department of Defense, and intelligence agencies. Orbital employs almost 4,000 people, primarily in Virginia and Arizona, with other smaller locations around the country.

"Ex-Im Bank has played a critical role in the financing of several high-value commercial satellites built by Orbital," said Garrett Pierce, vice chairman and chief financial officer of Orbital. "Ex-Im Bank's participation has enabled us to compete on a level playing field around the world and win new export-related business. In addition, our success in capturing new orders of state-of-the-art spacecraft provides hundreds of high-tech and high-wage jobs for Orbital's workforce and throughout our extensive network of U.S.-based suppliers."

Ex-Im Bank authorized a record-breaking $1.4 billion to finance exports of American-made telecommunications satellites in FY 2012. In the first quarter of FY 2013, Ex-Im Bank has already authorized $516.9 million.

ABOUT EX-IM BANK:


Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 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 $35.8 billion in total authorizations in FY 2012 – an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales – also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country.

U.S.EXPORT-IMPORT BANK APPROVES LOAN TO FINACE HOSPITAL EXPANSION IN GHANA

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Approves $155.4 Million Loan to Finance Hospital Expansion in Ghana

Washington, D.C. – In keeping with its focus on sub-Saharan Africa, the Export-Import Bank of the United States (Ex-Im Bank) has authorized a $155.4 million direct loan to the Republic of Ghana to finance the design and construction of a hospital expansion in Accra, Ghana.

Americaribe Inc. of Miami, Fla., will export the goods and services required in the project.

The loan will support approximately 700 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.


"This transaction, which is our second authorization for sub-Saharan Africa of the calendar year, reflects our continued commitment to supporting exports to Africa and the priorities of the President’s 2012 Presidential Policy Directive," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Moreover, the transaction will ensure Ghana can provide better healthcare to its people and in the process support hundreds of U.S. jobs in a key sector."

The Ridge Hospital Complex, which was built in 1928, serves as the primary medical facility for the Greater Accra Region (GAR). Between 2000 and 2010, the GAR population increased from 1.4 million to 3.9 million, and so the expansion of the complex will help alleviate the capacity shortages. When completed, the hospital will number among the most advanced medical facilities in West Africa and will include a new 420-bed building housing a comprehensive diagnostic and treatment block and a state-of-the-art maternity ward.

Americaribe, which incorporated in Florida in 2002, is a subsidiary of the multinational group Bouygues and specializes in the design, engineering, and construction of healthcare, education, transportation, residential, and commercial projects.

"The Ghana Ridge Hospital is a key project for Americaribe’s business development, boosting our activity and allowing us to create between 15 and 20 new direct jobs in the U.S. during the three years of the contract," said Jean-Baptiste Baudin de la Valette, president of Americaribe. "As of today, we already have hired three new employees directly linked to this transaction. It will also strengthen our relationship with our consultants and suppliers in the U.S. and will allow them to maintain or create hundreds of technical and specialized jobs. We have also created Americaribe Ghana Ltd., a company registered in Ghana and 100% owned by Americaribe Inc., to execute the job."

HSBC London and New York Project & Export Finance teams acted as financial advisor

to the Government of Ghana throughout the Ex-Im Bank application and due diligence processes.

In FY 2012, Ex-Im Bank authorized more than $1.5 billion to support U.S. exports to sub-Saharan Africa.

EXPORT-IMPORT BANK LOANS $1 BILLION TO FINANCE MANUFACTRUING EQUIPMENT EXPORT TO GERMANY

Part of Schloss Cecilienhof where the Potsdam Conference - which established post-World War II order in Europe - took place in the summer of 1945.

FROM: U.S. EXPORT-IMPORT BANK

Ex-Im Approves $1 Billion Direct Loan to Finance Export
of U.S. Manufacturing Equipment to Germany


Washington, D.C. – In a decision that will support nearly 10,000 high-tech jobs, the Export-Import Bank of the United States (Ex-Im Bank) has approved a $1.03 billion loan to GLOBALFOUNDRIES to finance the export of American-made semiconductor manufacturing equipment to Germany.

The transaction, which is Ex-Im Bank’s third with GLOBALFOUNDRIES and its related entities, will support approximately 9,700 jobs, according to Bank estimates derived from Departments of Commerce and Labor data and methodology.


Four American exporters from California, Massachusetts, and Oregon will participate in the transaction.

Ex-Im Bank’s credit will support the expansion of the GLOBALFOUNDRIES Fab 1 silicon-wafer-fabrication facility in Dresden, Germany. The expansion will increase the company’s capacity to manufacture semiconductor products, which are critical components of personal computers, tablets, and smart phones.

"Our financing allows American manufacturers to capture a larger share of a growing market," said Ex-Im Bank Chairman and President Fred P. Hochberg. "The export sales will in turn support U.S. jobs and increase American competiveness in a vital industry."

Launched in March 2009 and based in Milpitas, Calif., GLOBALFOUNDRIES is the second largest dedicated semiconductor foundry in the world. Its global footprint is supported by major facilities for research, development, and design enablement. GLOBALFOUNDRIES is owned by the Advanced Technology Investment Company.

Applied Materials Inc., one of the exporters involved in the transaction, is a global leader in providing innovative equipment to enable the manufacture of advanced semiconductors. Headquartered in Santa Clara, Calif., Applied Materials has more than 7,000 employees in the U.S., located primarily at corporate, manufacturing, and research-and-development facilities in California, Massachusetts, Montana, and Texas.

"The ability of our customer GLOBALFOUNDRIES to access this financing benefits Applied Materials’ manufacturing and R&D in the United States, as well as our supply chain, at a time of tremendous global competition for high-tech jobs," said Mike Splinter, chairman and CEO of Applied Materials, Inc.

Atradius of the Netherlands is also lending to GLOBALFOUNDRIES as part of an export-credit-agency facility totaling $1.5 billion.