EXPORT-IMPORT BANK GUARANTEES FINANCING TO SELL HELICOPTERS TO BRAZIL

Whether seen at night or during the day, the capital city of Brazil is unmistakable from orbit. Brasilia is located on a plateau - the Planalto Central - in the west-central part of the country, and is widely considered to be one of the best examples of 20th century urban planning in the world. One of its most distinctive design features - as seen from above - suggests a bird, butterfly, or airplane traveling along a northwest-southeast direction, and is made dramatically visible by city light patterns (image center right, between Lake Paranoa and the airport). Following the establishment of Brasilia in the early 1960s, informal settlements began to form around the original planned city. Ceilandia was one such settlement. In 1970, Ceilandia was formalized by the government and is now a satellite city of Brasilia with its own distinct urban identity. The developed areas of Brasilia and its satellites are clearly outlined by street grids and highway lights in this photograph taken from the International Space Station. The large unlit region to the upper right is the Brasilia National Park. Image courtesy of NASA. From: CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK

Ex-Im Bank Approves Financing to Export Helicopters; Supports More Than 500 Jobs
WASHINGTON, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) announced today it will guarantee financing to support the export of U.S.-made helicopters to Brazil. This marks the first time the Bank has financed high-tech AW139 helicopters destined to be operated by Omni Taxi Aereo (OTA) of Rio de Janiero, Brazil. Omni Helicopters International S.A. (OHI) will buy the aircraft and assign them to its operating subsidiary, OTA. Philadelphia manufacturer AgustaWestland North America will supply its twin-engine helicopters in order for OHI to service its transportation contracts with Petrobras, which operates deep-water drilling rigs off the Brazilian coast.


The Bank’s financing is estimated to support at least 500 American jobs in all phases of aircraft production and delivery, based on the number employed by AgustaWestland in Philadelphia.


"With this transaction, we’ve guaranteed employment for skilled American workers," said Ex-Im Bank Chairman and President Fred P. Hochberg. "We’re pleased not only to help support these well-paying jobs, but also to level the playing field for an American manufacturer in the highly competitive energy-industry aircraft market."


Brazil’s state-owned Petrobras off-shore drilling industry increasingly demands new-technology, medium-lift helicopters like the AW139 model produced by AgustaWestland North America in its Philadelphia factory. Each AW139 helicopter can carry fifteen passengers to remote off-shore operations. It features a range of 575 miles and can fly at a cruising speed of 190 miles per hour.


Bruno Cellemme, President and CEO of AgustaWestland (Philadelphia), remarked, "AgustaWestland is pleased to again partner with the Export-Import Bank of the United States to support the export of helicopters produced at our Philadelphia plant. These exports help to sustain jobs at our Philadelphia-based manufacturing plant, which employs more than 500 aerospace workers."

EXPORT-IMPORT BANK TAKES PART IN LOAN TO SUPPORT U.S. EXPORTS OF PETROCHEMICAL GOODS AND SERVICES TO INDIA



Photo: Varanasa On The West Bank Of The Ghanges. Credit: CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Approves $2.1 Billion to Finance Export
of U.S. Petrochemical Goods and Services to India

Washington, D.C. – Continuing its efforts to support American jobs by boosting American exports, the board of the Export-Import Bank of the United States (Ex-Im Bank) has voted to extend a $1.06 billion direct loan and to guarantee a $1.06 billion JPMorgan Chase loan to Reliance Industries Ltd. (Reliance) of Mumbai, India, for the export of American goods and services destined for use in Reliance’s expansion projects at Jamnagar in the Indian state of Gujarat.

The transaction is the single largest Ex-Im Bank has ever authorized for Reliance, and it represents Reliance’s first attempt at funding through the capital markets with an Ex-Im Bank guaranteed bond issuance.

The credit will support approximately 12,300 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology. Moreover, six percent of the financing is expected to support American small businesses.

"This transaction is a tremendous opportunity for U.S. exporters and U.S. jobs, as revealed by the impressive exporter and job counts," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Ex-Im Bank’s financing offsets foreign export-credit-agency competition and provides American exporters with a level playing field. The result is the continued success of American technology and expertise."

"We are very pleased to support Reliance in this important expansion project," added Lillian Labbat, managing director, J.P. Morgan. "The unique conversion options, utilizing bond and direct loan financing, demonstrate Ex-Im’s focus on delivering competitive solutions while fostering U.S. exports and job growth."

Among the more than 65 exporters and suppliers involved in the transaction are Fluor Corporation, Lummus Technology, Univation Technologies LLC, Bechtel, and ConocoPhillips.

Located on the Gulf of Kutch, the Jamnagar complex oversees the largest single-location refinery operation in the world. Reliance intends to increase the complex’s petrochemical output by constructing a petcoke gasification unit that will top the world’s rosters in size and significantly enhance the efficiency of the company’s refinery business. Reliance also plans to erect a refinery off- gas cracker with matching downstream units that will better integrate polymer and polyester production.


"We are once again partnering with major U.S. suppliers for cutting edge technology, critical project management services and equipment from a wide section of American exporters for rolling out our next phase of growth," said Alok Agarwal, Reliance’s chief financial officer. "We value our long standing relationship with Ex-Im Bank and this landmark transaction further strengthens the partnership. This landmark transaction reaffirms the catalyst role played by Ex-Im Bank in facilitating trade between U.S. and India. We also sincerely appreciate the role played by JPMorgan Chase in this important transaction for us."

Reliance is India’s largest private sector company, and its operations range from oil and gas exploration and production to refining and petrochemicals. The company ranked 99th in revenues and 130th in profits in 2012, according to Fortune’s Global 500 list of ‘World's Largest Corporations’ and ‘World’s Top 100 companies.’

Fluor Corporation, one of the U.S. exporters participating in the transaction, is a FORTUNE 500 company that delivers engineering, procurement, construction, maintenance, and project management services to governments and clients in diverse industries around the world. The company is headquartered in Irving, Texas.

"We believe this positive development for the Reliance Industries project in India will help expedite the procurement process, lay a solid foundation for a long term partnership with a very valuable partner in India, and will promote U.S. jobs," said Otto Kjos, senior vice president, Energy & Chemicals, Fluor.

As of the end of FY 2012, Ex-Im Bank credit exposure in India totaled $6.5 billion.

U.S. EXPORT-IMPORT BANK BACKS ETHIOPIAN BONDS TO BOLSTER BOEING 787 SALES

Map:  Ethiopia.  Credit:  CIA World Factbook. 

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Backs Bonds Issued by Ethiopian Airlines for Export of U.S Aircraft
Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) is backing bonds issued by Ethiopian Airlines of Addis Ababa to finance the export of four of ten Boeing 787 Dreamliner aircraft to Ethiopia.

Ethiopian Airlines obtained competitive interest rates on its bonds.

"This good news illustrates that the capital markets are yet another funding source available to facilitate U.S. exports and support American jobs," said Ex-Im Bank Chairman and President Fred P. Hochberg. "We are proud that Ethiopian Airlines, one of our longstanding partners, has benefitted from this new financing program, and we hope that it will be the first of many African buyers of U.S.-manufactured goods and services to do so."

"The combination of high-quality, high-technology U.S.-manufactured Boeing aircraft, along with Ethiopian Airlines’ business model and management team and Ex-Im Bank-supported financing, is enabling Ethiopian Airlines to successfully connect Africa and its people and products to the world," added Bob Morin, Ex-Im Bank’s vice president for transportation.


Ex-Im Bank authorized the final commitment for the purchase of the Dreamliners in May, and Boeing delivered the first aircraft to Ethiopian Airlines at a ribbon-cutting ceremony in the main terminal of Washington Dulles International Airport here August 15. Nippon Export and Investment Insurance (NEXI) co-financed the transaction.


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

"We are lucky enough to secure such lowest coupons at our first entry into this market. It is a result of good understanding, dedication and effort among Ethiopian Airlines and our partners, Ex-Im Bank and JPMorgan," said Kassim Geresu, Ethiopian Airlines’ chief financial officer. "We were all closely working together over several months to close the financing deal and achieve such attractive rates. I thank all involved from ET, JPMorgan and Ex-Im Bank for such fruitful work. As part of our cost leader ship strategy and the ongoing efforts to make our airline competitive and cost efficient, it is my belief that the bond financing arrangement is also contributing to take us to a better position."

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

In FY 2012, Ex-Im Bank authorized a record $1.52 billion to support U.S. export sales to buyers in Sub-Saharan Africa.

MESSAGE FROM U.S. EXPORT-IMPORT BANK CHAIRMAN

Fred Hochberg.  Chairman Of Export-Import Bank.

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

Friends,

Recently the Export-Import Bank of the United States announced a fourth straight record-breaking year for export financing – over $35.7 billion in Exim authorizations for FY 2012. That is up by nearly 10 percent from last fiscal year and up 150 percent over the past four years. We not only did this at no cost to taxpayers, we delivered $1.1 billion in excess revenues to the Treasury.

But these numbers mean little without understanding the impact we've had on America's economic recovery. Our financing supported 255,000 export-related jobs last year – good jobs with high wages and a promising future for working families—and nearly 1 million jobs over the past 4 years. These quality jobs were in communities across the country in industries ranging from nuclear power plant machinery and services to solar panels.

Our financing for small businesses also reached a new record of $6.1 billion – supporting innovative entrepreneurs as they expand into overseas markets. By the end of FY 2012, 650 small businesses have used Exim financing this year for the first time; additionally, more than 1,730 small-business transactions were for loans under $500,000. And we've only just begun. Our support for women- and minority-owned small-business exporters, for instance, increased nearly 17 percent, setting a new record. Here at Ex-Im, we are always looking to partner with new exporters.

Export growth is contributing more and more to the nation's economy. Overall in 2011, U.S. exports accounted for $2.17 trillion of U.S. gross domestic product of $15.6 trillion – an all-time high. This underscores the success so far of President Obama's National Export Initiative – a coordinated effort to double U.S. exports by the end of 2014 – as we continue to make steady progress towards that goal.

Business people around the country are impressed when I tell them that we produced these results with a staff of only about 400. Not only that, we cut our approval times in half, simplified application forms, and launched a Total Enterprise Modernization program to streamline our systems. In FY 2012, 90% of all transactions were processed within 30 days and 98% were processed within 100 days. We are doing "Government at the Speed of Business" and expect even more productivity improvements in the year ahead. I invite you to read on for details about our successful fourth quarter and fiscal year.

U.S. EXPORT-IMPORT BANK CLAIMS RECORD BREAKING YEAR WITH $35.7 BILLION IN EXPORT FINANCING

Photo:  Container Ships In Panama Canal.  Credit:  Wikimedia.

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Bank FY 2012 Annual Report Details Fourth Consecutive Record-Breaking Year
Over $35.7 Billion in Export Financing Supporting 255,000 U.S. Jobs

Washington, D.C. --- The Export-Import Bank of the United States (Ex-Im Bank) today released its Fiscal Year 2012 annual report-- a fourth consecutive record-breaking year with almost $35.8 billion in export financing that supported about $50 billion in exports and 255,000 American jobs.

"The ‘Made in the USA’ brand has never been stronger, fueled by the strength of American exporters and the work President Obama has done to grow our economy," said Fred P. Hochberg, Ex-Im chairman and president. "FY 2012 authorizations, at over $35.7 billion, were up about ten percent from the year before, and more than double the amount from FY 2008. In the past five years, U.S. exporters working with Ex-Im Bank have created or sustained over one-million private sector jobs. And we’ve done it all at no cost to the American taxpayer, as Ex-Im has sent $1.6 billion to the U.S. Treasury over the past five years."

"By these measures and others, the past five years have seen nothing less than a revolution in export-driven economic development," Hochberg said.

Among the highlights from the report:
FY 2012’s over $35.7 billion in authorized export financing was 10 percent greater than FY 2011, and more than double the amount from FY 2008.
During the four years since FY 2008, the Bank has financed transactions that have enabled more than $170 billion worth of American exports, supporting nearly 1,000,000 American jobs.
Since FY 2008, the volume of Ex-Im export financing directly benefitting American small businesses has nearly doubled from $3.2 billion to $6.1 billion in FY 2012, a 92 percent increase in four years.
Support for women- and minority-owned small business exporters was one of the fastest growing market segments, with loans up almost 17 percent this year --- a new record.
A four-year emphasis on "Government at the Speed of Business" has, in FY 2012, resulted in 90 percent of all transactions being processed within 30 days and 98 percent were processed within 100 days.
In FY 2012, Ex-Im provided more than $5.1 billion in infrastructure-related financing, a 433 percent increase over FY 2008 and an enormous opportunity for American exporters.
Geographically, Asia and the Middle East were the Bank’s largest regions in FY 2012, with a $9.5 billion increase over FY 2011. Ex-Im supported exports in sub-Saharan Africa have tripled over the past four years.
"I couldn’t be more proud of the men and women who are committed to the mission of Ex-Im Bank," Hochberg said. "They provide dedicated service, expertise, and professionalism to the U.S. companies with which we work."

U.S. EXPORT-IMPORT BANK TO UNDERWITE EXPORT OF U.S.-MADE SATELLITES TO HONG KONG

Sputnick Exhibit:  The Original Satellite.  Photo Credit:  U.S. Air Force

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Approves $461 million to Finance Export
of U.S. Satellites to Hong Kong

Washington, D.C. – In a decision that will support thousands of high-tech jobs in the U.S., the board of the Export-Import Bank of the United States (Ex-Im Bank) has authorized two transactions aggregating $461 million to underwrite the export of American-made satellites to Hong Kong.


The pair of transactions will support approximately 3,700 U.S. jobs, according to Bank estimates derived from Departments of Commerce and Labor data and methodology.

"We are excited to play such a key role in two dynamic transactions that will support several thousand high-paying U.S. jobs in the satellite and aeronautics industries," said Ex-Im Bank Chairman and President Fred P. Hochberg. "These products reveal the technological ingenuity and innovation of American companies and will benefit millions of people the world over as we orient ourselves more and more to the future."

Asia Broadcast Satellite (ABS) of Hong Kong will deploy the satellites to upgrade and expand its fleet, which offers coverage to 80 percent of the world’s population and targets emerging markets in Africa, Asia, the Middle East, and Russia.

"We are absolutely delighted with the support of Ex-Im Bank to provide us financing for our upcoming satellite and launch platforms. In ABS-2, Space Systems/Loral provides us with one of the largest satellites ever to be launched over Asia. Separately, the combination of Boeing 702SP satellites and the Falcon-9 launch vehicles will revolutionize the Fixed Satellite industry with the most cost effective delivery of satellites into orbit," said Tom Choi, chief executive officer of ABS. "With these satellites, ABS will extend the reach of affordable and reliable communications and broadcast services to the emerging markets of the world. We are proud to be partnered with such innovative companies and we are extremely thankful for Ex-Im’s financing support."

In the first transaction, the Bank authorized a $171.29 million direct loan to ABS to finance the purchase of a FS1300, C/Ka/Ku-band geostationary satellite from Space Systems/Loral Inc. (SS/L) and insurance from Aon. The satellite is scheduled to launch in 2013.

SS/L, a Palo Alto, Calif.-based provider of satellites and space systems, has manufactured more than 250 satellites since 1960. The satellites have delivered an excess of 1,900 years of on-orbit service.

"Export-Import Bank financing helps make U.S. manufacturers more competitive and keeps our space industry strong," said John Celli, president of Space Systems/Loral. "Our work on the satellite for ABS keeps hundreds of engineers, technicians and managers employed here in Palo Alto and many hundreds more at suppliers across the U.S."

Additionally, the Bank authorized a separate $289.71 million direct loan to ABS to facilitate the purchase of two 702SP C- and Ku-band geostationary satellites from Boeing Satellite Systems International (Boeing), insurance from Aon, technical support, and the launch of both of the satellites with Space Exploration Technologies (SpaceX) Falcon 9. The transaction will finance the first two of Boeing’s all-electric-propulsion commercial satellites and the first Ex-Im Bank-backed SpaceX launch. The two satellites are planned to launch in 2015 from Cape Canaveral, Fla.

"The Bank's support of this important satellite operator, one of two launch customers, finds it again at the forefront of helping fulfill a global opportunity with an advanced-technology, American-made product," said Craig Cooning, chief executive officer of Boeing Satellite Systems International. "Our all-electric propulsion means lighter launch weight, which translates into more payload capability at a lower cost in orbit. It ultimately means we can offer customers more and capture sales that will support hundreds of high-tech American jobs."


Founded in 2002 and headquartered in Hawthorne, Calif., SpaceX designs, manufactures and launches rockets and spacecraft. It is the first private company to build, launch, and dock spacecraft at the International Space Station, a mission previously accomplished only by government space entities.

"Ex-Im Bank’s financing of the ABS mission on a Falcon 9 launch vehicle marks the first SpaceX international launch deal to receive Ex-Im backing, and we look forward to many more to come," said Gwynne Shotwell, SpaceX president. "SpaceX is rapidly winning back market share in a commercial field once dominated by the U.S. The support of Ex-Im is great for our customers, our jobs, and our country"

HSBC Hong Kong and New York Project & Export Finance teams acted as lead financial advisor to ABS throughout the Ex-Im Bank application and due diligence processes.

In FY 2012, Ex-Im Bank authorized approximately $1.4 billion in satellite transactions.

U.S. EXPORT-IMPORT BANK APPROVES APPROXIMATELY $500 MILLION LOAN TO FINANCE SALES OF DREAMLINERS TO POLAND

Photo:  787 Dreamliner.  Credit:  Wikimedia.

FROM: U.S. EXPORT-IMPORT BANK

Ex-Im Approves Approximately $500 million to Finance Export
of Boeing Dreamliners to Poland

Washington, D.C. – The board of the Export-Import Bank of the United States (Ex-Im Bank) authorized a comprehensive guarantee of an approximately $500 million loan to Polskie Linie Lotnicze LOT S.A. (LOT Airlines) for the export of a fleet of Boeing 787 Dreamliner aircraft to Poland.

Apple Bank for Savings of New York extended the loan.

Boeing delivered the first Dreamliner to LOT Nov. 9 in Everett, Wash. The Dreamliner departed Seattle Wednesday and arrived in Warsaw, Poland yesterday. LOT will be the first European airline to operate the Dreamliner, and it was also the first European airline to operate the Boeing 767.

Ex-Im Bank’s financing will support approximately 2,500 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.

"This landmark transaction brings American state-of-the-art aircraft to a competitive marketplace in Europe," said Ex-Im Bank Chairman and President Fred P. Hochberg. "By leveling the playing field, the Bank’s financing benefits business in both America and Poland and supports thousands of jobs in the U.S."

Founded in 1928, LOT became the first airline in Central and Eastern Europe to operate American-manufactured aircraft. It is also the only airline that currently offers non-stop flights between the U.S. and Poland. The fleet of Dreamliners, which will contribute to LOT’s efforts to simplify, modernize, and upgrade its operations, will continue LOT’s non-stop North American service by flying routes to Warsaw from Chicago, New York, and Toronto.

"The Dreamliner delivery is yet another historic first for LOT, already one of the world’s oldest continuing airlines, as it becomes the first airline in Europe to operate the 787," said Todd Nelp, vice president for European sales at Boeing Commercial Airplanes. "We’re thankful that Poland’s flag carrier puts its faith in American aviation know-how, and that Ex-Im Bank is there to support our customers who enable and sustain thousands of U.S. technology jobs."

Nippon Export and Investment Insurance of Japan is co-financing the transaction.

As of the end of FY 2012, Ex-Im Bank’s credit exposure in Poland totaled $5.5 million.

U.S. EXPORT-IMPORT BANK GUARANTEES $35 MILLION FOR CONSTRUCTION OF SULFUR PURIFICATION PLANT IN IRAQ



Trade.  Credit:  CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK
Washington, D.C. – The board of the Export-Import Bank of the United States (Ex-Im Bank) voted to guarantee a JPMorgan Chase loan totaling $35 million to Devco International LLC (Devco) of Tulsa, Okla., for the design and construction of a sulfur purification plant in Mosul, Iraq.

Ex-Im Bank’s financing will support approximately 380 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.

"This significant transaction not only supports American small-business jobs here at home, but it also supports the sulfur and agricultural industries in Iraq," said Ex-Im Bank Chairman and President Fred P. Hochberg. "By providing a working –capital guarantee, Ex-Im Bank is demonstrating that we are always looking to support U.S. exporters and grow our economy by creating quality jobs here at home."

Devco utilizes as part of its design a modular concept that maximizes labor concentration in a fabrication-shop environment. The company will design, procure, fabricate, and pre-assemble the plant in the United States and then ship the plant in modular form to Iraq. Upon arrival, Al Hawarth, an Iraqi-owned company, will re-assemble the facility outside the riverside city of Mosul.

The plant will process sulfur from underground deposits utilizing a priority process, Submerged Combustion Distillation, developed by CTI Consulting of New Orleans, La. The Al-Mishraq Sulphur State Company, which will own and operate the facility, plans to retail the purified sulfur output in Iraq for domestic use. Sulfur is a key ingredient in fertilizer and therefore is in demand within the agricultural sector.

"We are proud to support Devco International LLC in this important transaction which will create hundreds of American jobs," said Lillian Labbat, managing director, J.P. Morgan. "We see exports as a key driver of economic expansion. Our export finance capabilities and global footprint are what enable us to help small businesses to compete and to succeed."

Founded in 1978, Devco is a chemical-engineering firm that designs sulfur-handling equipment. The small-business company developed a wet-processing technology known as the Devco II Wet Pelletizing Technology, which converts molten sulfur into solid sulfur pellets in a process that is both economical and environmentally friendly.

"We are very pleased with the support being provided to us by Ex-Im Bank on this critical project. A project such as this would have been difficult to obtain without their dedicated assistance," said Doug Houston, the owner and chief executive officer of Devco. "Projects of this magnitude allow us to extend and expand our technical staff, while supplying significant job opportunities for our fabrication partners in several locations throughout the United States. This project heightens the company’s opportunity to provide additional United States based technology and equipment solutions for Iraq."

MEXICAN PECAN COMPANY OWNER GOES TO PRISON FOR SCHEME TO DEFRAUD U.S. EXPORT-IMPORT BANK

FROM: U.S. DEPARTMENT OF JUSTICE

Wednesday, November 7, 2012
Mexican Pecan Company Owner Sentenced to 48 Months in Prison for Scheme to Defraud the U.S. Export-Import Bank

WASHINGTON – The owner of a pecan brokerage company in Ciudad Juarez, Chihuahua, Mexico, was sentenced today to serve 48 months in prison for his role in a scheme to defraud the Export-Import Bank of the United States (Ex-Im Bank) of approximately $400,000, 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.

Leopoldo Valencia-Urrea, 50, was sentenced by Judge Kathleen Cardone in U.S. District Court in El Paso, Texas. Valencia pleaded guilty on Oct. 13, 2011, to one count of conspiracy to commit wire fraud, one count of wire fraud and one count of money laundering conspiracy in connection with a scheme to defraud the Ex-Im Bank of approximately $400,000. In addition to his prison term, Valencia was sentenced to serve three years of supervised release and was ordered to pay $58,000 in restitution and $399,075 in forfeiture.

According to court documents, Valencia, a U.S. citizen, was the owner of a pecan brokerage company in Ciudad Juarez and resided in El Paso. Valencia admitted that in 2006, he applied for an Ex-Im insured loan for $406,258 through a bank in Miami. As part of his fraudulent loan application, Valencia and others submitted a fraudulent loan application, financial statements, invoices, letters and bills of lading to falsely represent to the Miami bank and the Ex-Im Bank the purchase and export of U.S. goods to Valencia in Mexico. After the exporter who conspired with Valencia received $399,075 from the Miami bank, Valencia and others diverted the loan proceeds directly to Valencia and others in Mexico. As a result of the fraud, Valencia’s loan defaulted, causing the Ex-Im Bank to pay a claim to the lending bank on a $371,962 loss.

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. Significant financial analysis and strategic assistance was provided during the course of this investigation by the Financial Crimes Enforcement Network (FINCEN).

EXPORT-IMPORT BANK GUARANTEES $50 MILLION LOAN PROMOTING SALE OF HELICOPTERS TO MEXICAN COMPANY

The Chacchoben Maya temple pyramid dates to about AD 700; it was originally painted red and yellow.

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Approves Over $50 million
to Finance Export of U.S. Aircraft to Mexico
Washington, D.C. – The board of the Export-Import Bank of the United States (Ex-Im Bank) authorized more than $50 million to guarantee a loan extended by Apple Bank to Aeroservicios Especializados S.A. DE C.V. (ASESA) of Mexico that will finance the export of a fleet of Sikorsky S-76D (TM) helicopters to Mexico.

Ex-Im Bank’s credit will support approximately 450 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.

The loan guarantee formally inaugurates Ex-Im Bank's Business Aircraft and Helicopter Qualified Advisor program, which was first announced by Ex-Im Bank Chairman and President Fred P. Hochberg at the European Business Aviation Convention & Exhibition in May of 2012. San Francisco-based AirFinance served as the qualified advisor and facilitated the application and authorization process.

Additionally, the transaction is the Bank’s first involving the new Sikorsky S-76D helicopter.

"Ex-Im Bank is pleased to back the export of Sikorsky helicopters once again, this time to Mexico, one of our nine key markets," said Chairman Hochberg. "We are also pleased that our Qualified Advisor program has proven helpful in expediting innovative U.S. exports and supporting U.S. jobs."

Headquartered in Stratford, Conn., Sikorsky Aircraft Corporation manufactures both commercial and military helicopters. Its S-76D model, the latest variant of the S-76, is a medium-lift helicopter designed for offshore oil operations, EMS, executive transport, and search-and-rescue missions. In terms of capabilities, the helicopter provides increased range and a quieter cabin. Upon further certification to come, the helicopter will boast the ability to operate in known icing conditions.

"We are very happy Ex-Im Bank has approved the financing of S-76D helicopters to ASESA, a decision that will support U.S. jobs. Mexico is an extremely important market for all of our Sikorsky products and we are pleased to welcome ASESA to our family of S-76 fleet operators," said Adam Schierholz, Sikorsky’s regional sales director for Mexico. "The S-76 model has a long and successful history serving the offshore oil markets, and the D model is the latest variation of this very popular platform of aircraft. We are thrilled that ASESA will be introducing it to the Mexican market."

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. It is currently the only approved general aviation qualified advisor for Ex-Im Bank focused on providing greater support to U.S.-made aircraft.


"The Qualified Advisor Program is a great example of the public-private partnership so frequently held up as a model for how government can partner with the private sector. We are honored to partner with Ex-Im’s experienced aircraft financing team to help Sikorsky expand in Mexico and to support U.S. jobs," said Kirsten Bartok, AirFinance managing partner.

ASESA is a leading helicopter-services provider for the oil and gas industry in Mexico and South America. The Monterrey, Mexico-based company was founded in 1977 and has accumulated more than 470,000 flight hours. It plans to employ the Sikorsky helicopters to ferry personnel to and from deep-water drilling rigs in the Gulf of Mexico.

"We are very excited that Ex-Im bank trusts ASESA by approving the first S-76D helicopter financing package. We think this important event will mark the beginning of a long lasting relationship between ASESA and Ex-Im Bank for the coming years," said Humberto Lobo, CEO of Grupo Lomex (parent company of ASESA).

As of the end of FY 2011, Ex-Im Bank’s credit exposure in Mexico amounted to $8.3 billion.

EXPORT-IMPORT BANK LISTS NATIONS WITH LARGEST INCREASES IN U.S. GOODS PURCHASES

Photo:  Container ships In Panama.  Credit:  CIA World Factbook.

 FROM:  U.S. EXPORT-IMPORT BANK

WASHINGTON, D.C. – The United States exported $181.3 billion in goods and services in August 2012, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

"I am pleased that U.S. exports remain high, because they are a major contributor to our economic recovery, and help create and sustain jobs across the country," said Export-Import Bank Chairman and President Fred P. Hochberg. "Going forward, we encourage more American companies to compete in international markets, where 95 percent of the world’s customers are located."

Exports of goods and services over the past twelve months totaled $2.173 trillion, which is nearly 37.6 percent above the level of exports in 2009. Over the past twelve months, exports have been growing at an annualized rate of 12.7 percent when compared to 2009.

In June of this year, the U.S. recorded exports of $185.2 billion, an all-time record high.

Among major export markets, the top ten buying countries with the largest annualized increase in purchases of U.S. goods were, when compared to 2009, Panama (34.9 percent), Chile (27.8 percent), Argentina (26.3 percent), Turkey (26.3 percent), Russia (25.7 percent), Hong Kong (25.6 percent), Peru (25.3 percent), United Arab Emirates (21.8 percent), Ecuador (21.6 percent), and Venezuela (20.9 percent).

EXPORT-IMPORT BANK AUTHORIZES $117.5 MILLION LOAN GUANTEE SUPPORTING AIRCRAFT SALES TO FLYDUBAI



The Burj-al-Arab Hotel in Dubai is one of the world's tallest hotels. Its distinctive shape is meant to mimic an Arab dhow (sailing vessel).

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Bank Authorizes $117.5 Million in First Financing of Boeing Aircraft
to flydubai
WASHINGTON, D.C.: The Export-Import Bank of the United States (Ex-Im Bank) has authorized a $117.5 million loan guarantee supporting exports of Boeing 737-800 aircraft to flydubai, a low-cost airline owned by the government of Dubai.

Ex-Im Bank is guaranteeing a 12-year loan from the Private Export Funding Corp. It is the Bank’s first authorization supporting aircraft exports to flydubai.

"This financing is a first for Ex-Im Bank for this successful new carrier in the Middle East, and this export is a great opportunity for Boeing to expand its market reach in the United Arab Emirates. The aircraft financed supported hundreds of jobs at Boeing and its suppliers across the country," said Ex-Im Bank Chairman and President Fred. P. Hochberg.

"We believed that it was the right time, in flydubai’s third year of operation, to diversify the sources of funding for our aircraft. We are delighted to have the support of Ex-Im Bank and the Private Export Funding Corp. as we continue to grow, and we look forward to developing our relationship with them in the future," said Ghaith Al Ghaith, CEO of flydubai.

In business since 2009, flydubai operates a route network of more than 45 destinations across the Middle East, North Africa, the Indian subcontinent, Asia, and Central and Eastern Europe. The airline is designated as a national carrier of the United Arab Emirates.

OVER $803 MILLION IN EARNINGS FROM EXPORT-IMPORT BANK

Photo Credit:  Wikimedia.

FROM: U.S. EXPORT-IMPORT BANK

Export-Import Bank Earns Over $803 Million for Taxpayers
During Fiscal Year Just Ended; October 5, 2012

Since 2008 Bank Operations Net $1.6 Billion to Help Reduce Deficit

WASHINGTON, D.C. --- In what promises to be a fourth record-setting year for export finance authorizations and jobs, the Export-Import Bank of the United States (Ex-Im Bank) has announced that in the fiscal year that ended September 30, 2012 the Bank earned for U.S. taxpayers $803.7 million dollars above the cost of all operations. The Bank transferred the funds this week to the U.S. Treasury’s General Fund.

"I’m proud that the Bank is able to contribute to reducing the deficit while at the same time helping create and sustain the jobs of America’s talented export workers," said Fred P. Hochberg, chairman and president of Ex-Im. "Although we’ve not finished closing the books on Fiscal Year ’12, it looks like we’ll again have another record-setting year. To do that at no cost to taxpayers while earning over $800 million is a testament to Ex-Im’s dedicated staff and the many private and public sector partners that work with us everyday."

From fiscal years 2008 through 2012 Ex-Im Bank sent a net amount of $1.6 billion to the U.S. Treasury.

EXPORT-IMPORT BANK ANNOUNCES VIETNAM ROADSHOW FOR U.S. EXPORTS

A few of the many limestone monolithic islands in Halong Bay.  Credit:  CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK
Friday, October 5, 2012

Ex-Im to Offer Trade-Finance Seminars in Vietnam
Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) is scheduled to offer a series of trade-finance seminars in cities throughout Vietnam, one of the Bank’s nine key markets, from Oct. 10 to Oct. 16 as part of a "roadshow" designed to boost U.S. exports to the region.


The half-day seminars, organized in conjunction with the American Chambers of Commerce of Hanoi and Ho Chi Minh City, will introduce the Vietnamese participants to Ex-Im Bank’s menu of products by way of outreach, training, and market sounding.

Ex-Im Bank representatives will publicize the availability of the Bank’s export financing, explain how Vietnamese companies can access the Bank’s programs, and listen to Vietnamese buyers to learn how the Bank can accommodate their needs.

"We are excited about the growth opportunities in Vietnam and want to see companies tap into Ex-Im Bank for their financing," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Our exports will help grow jobs both in the United States and Vietnam."

Ex-Im Bank recently approved a $118 million direct loan to the government of Vietnam for the export of a Lockheed Martin Space Systems Company telecommunications satellite.

U.S. EXPORT-IMPORT BANK APPROVES $118 MILLION DIRECT LOAN TO GOVERNMENT OF VIETNAM

Vietnam Statue of Ho Chi Minh reading to a child in front of the Communist Party of Vietnam headquarters in Ho Chi Minh City ,formerly Saigon. .From- CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK
Ex-Im Approves $118 Million in Financing to Vietnam
for Export of Lockheed Martin Satellite
Washington, D.C. – The board of the Export-Import Bank of the United States (Ex-Im Bank) voted to authorize a $118 million direct loan to the government of Vietnam for the export of a Lockheed Martin Space Systems Company telecommunications satellite and additional goods and services.

The loan, which represents Ex-Im Bank’s first satellite transaction with the government of Vietnam, supported approximately 525 full-time equivalent American jobs, according to Lockheed Martin estimates, and financed export sales totalling $215 million.

"As one of our nine key markets, Vietnam affords American companies unique export opportunities," said Ex-Im Bank Chairman and President Fred P. Hochberg. "These opportunities promote economic growth in both countries, which in turn supports American jobs in vital U.S. industries. The satellite transaction in particular reflects the unsurpassed quality of American technology and the demand for it abroad."

The Vietnam Post and Telecommunications Group (VNPT), a state-owned enterprise headquartered in Hanoi acting on behalf of the government of Vietnam in the transaction, hopes to satisfy the growing demand of telecommunications and television markets emerging in the region.

"By providing financing for Vietnam Posts and Telecommunications Group, this Ex-Im Bank loan supports U.S. manufactured satellites and U.S. jobs," said Linda Reiners, Lockheed Martin Space Systems Commercial Ventures vice-president. "We congratulate our long-term customer VNPT, with whom we have now partnered in the manufacturing of two satellites."


The satellite, VINASAT-2, is a geosynchronous satellite that was launched May 15 and recently completed a series of in-orbit testing. Equipped with a payload of 24 active Ku-band transponders, the satellite provides coverage to Vietnam, Cambodia, Laos, and Thailand.

BNP Paribas will serve as the documentation agent and letter-of-credit bank.

As of the end of FY 2011, Ex-Im Bank’s credit exposure in Vietnam accounted for $185 million of the Bank’s portfolio.

In FY 2012, Ex-Im Bank authorized approximately $1.4 billion to support U.S. satellite exports, exceeding its financing for the industry in FY 2011.

Ex-Im Bank considered the transaction only after receiving presidential approval to do so. According to the Bank’s Charter, the president must first determine if an Ex-Im Bank loan of $50 million or more to a Marxist-Leninist country is in the national interest before the Bank’s board can vote on the transaction.

U.S. EXPORT-IMPORT BANK GUARANTEES PNC $6.4 MILLION LOAN TO FINANCE SOLAR POWER IN BARBADOS

BARBADOS MAP CREDIT:  CIA WORLD FACTBOOK

FROM: U.S. EXPORT-IMPORT BANK

Ex-Im Guarantees PNC Loan to Finance Solar Power in Barbados;

Supports Small Business Jobs in Five States
 Washington, D.C. – Ex-Im Bank provided a $6.4 million loan guarantee to finance the export of solar modules from West Coast-based SolarWorld Americas to Williams Industries Inc.-Williams evergreen Ltd. of St. Thomas, Barbados. This project, one of the largest in the Caribbean, includes engineering services and solar-system racking exported from two American companies.


"Ex-Im export financing for this deal supports several American businesses and helps support jobs in five states, including California, Oregon, Arizona, Colorado, and Washington," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Our financing is good for American jobs, boosts American manufacturing and supplies clean, renewable energy to Barbados."

Williams Industries-Williams evergreen Ltd will use the solar-power system to provide 1.4 megawatts of on-site power to ten sites within the Williams Group portfolio. The immediate savings in power costs will also furnish a hedge against future increases in electricity prices. Williams Industries, established in 1972, controls 13 wholly owned and 17 joint venture companies in Barbados, St. Lucia and other Caribbean islands. These companies are active in manufacturing, electrical engineering, construction, agriculture, tourism waste recycling, real estate development, and water desalination.

"Without the assistance of Ex-Im Bank, Williams Industries through its subsidiary Williams evergreen would not have been able to build 1.4 megawatts of solar capacity over the last six months," said Williams Industries chairman Ralph "Bizzie" Williams. "As a Feed In Tariff is legislated for Barbados, we are looking forward to working with the Ex-Im Bank to build a very significant expansion of our output of electricity from the sun."

SolarWorld Americas, a subsidiary of SolarWorld AG, employs about a thousand U.S. workers at its headquarters manufacturing facility in Hillsboro, Oregon, and its sales and marketing hub in Camarillo, California. Engineering corporation CH2M HILL of Colorado provided engineering services to the project. The Tucson, Arizona manufacturing plant of Schletter Inc. US exported the necessary solar-system racking.

"With its sun-drenched tropical setting and reliance on imported oil for energy generation, the Caribbean is an ideal location for solar," said Raju Yenamandra, vice president of sales and business development for Solar World. "In Williams Industries, we found a perfect partner for island solar development. By combining SolarWorld’s high-quality solar equipment with Williams’ knowledge of the Caribbean electrical sector, we can provide significant oil savings to the island and lower payments for Williams. With Ex-Im Bank financing, this project makes good economic and environmental sense."

The Bank partnered with PNC Bank to provide the $6.4 million, 10-year loan guarantee. Barbados accounted for approximately $ 3.8 million of the Bank’s worldwide credit exposure as of the end of FY 2011. The Bank’s Environmental Export Program offers enhancements such as repayment terms of up to 18 years for eligible U.S. exports to renewable energy and water-related projects.

EXPORT-IMPORT BANK APPROVES A NEARLY $5 BILLION LOAN TO SADARA CHEMICAL COMPANY

Map:  Saudia Arabia.  Credit:  CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK

Ex-Im Bank Approves Record-breaking Transaction
to Support More Than 18,000 Jobs
Washington, D.C. – In its largest job-supporting authorization to date, the board of the Export-Import Bank of the United States (Ex-Im Bank) has approved a $4.975 billion direct loan to Sadara Chemical Company for the export of American goods and services required in the construction of a petrochemical complex in Jubail Industrial City II in the Kingdom of Saudi Arabia.

According to estimates calculated from U.S. Census Bureau statistics, the financing will support approximately 18,400 American jobs, 12.5 percent of which come directly or indirectly from small businesses, in 13 states. Among the approximately 70 American exporters involved in the transaction are KBR, ABB Inc., and The Dow Chemical Company. More than 20 of the exporters are small businesses.

"Today the board approved a record-breaking transaction that will support more than 18,000 American jobs across 13 states," said Ex-Im Bank Chairman and President Fred P. Hochberg. "No other transaction in Ex-Im Bank’s storied history has supported as many American jobs as this transaction, and no other single transaction has provided so much support to small businesses. Furthermore, the manufacturing jobs supported by this transaction will in turn support other jobs, allowing the benefits of the transaction to reverberate throughout key corners of the U.S. economy."

Located in the Eastern Province of Saudi Arabia, the mega-project will develop significant downstream capabilities for production in the fast-growing markets of the Middle East. Sadara will be the largest integrated petrochemical complex ever constructed in a single phase and will comprise of 26 process units producing more than 3 million metric tons of ten major product families of chemical products and specialty plastics per year. The complex will become operational in 2016, and its products will be available in markets throughout the world.

Sadara Chemical Company, organized and existing under the laws of the Kingdom of Saudi Arabia, is a joint venture developed by the Saudi Arabian Oil Company (Saudi Aramco) and Dow.

Headquartered in Midland, Mich., The Dow Chemical Company, and its consolidated subsidiaries (Dow), delivers a broad range of technology-based products and solutions through the production, marketing, and sales of specialty chemicals and advanced materials and plastics. Dow operates manufacturing sites in 36 countries and employs approximately 52,000 people.

"This historic investment is an enormous opportunity – to drive growth and create thousands of jobs here in the U.S. The surest way to grow our economy is to make high-value, innovative products in America, and to bring them to market all over the world," said Andrew N. Liveris, chairman and chief executive officer of The Dow Chemical Company. "Ex-Im Bank's action will allow U.S. manufacturers to do just that – to sell equipment and services to the largest industrial complex ever built in a single phase – namely, Sadara. Thanks to the manufacturing sector’s unmatched multiplier effect, this will create thousands of additional jobs across the entire economy."

Saudi Aramco, wholly owned by the Saudi government and based in Dhahran, Saudi Arabia, manages the largest proven reserves of conventional crude oil in the world and the fourth largest gas reserves. The company was incorporated in the early 1940s and employs approximately 55,000 people.

The loan marks Ex-Im Bank’s second petrochemical transaction in Saudi Arabia. Other export-credit agencies participating in the transaction include Export Credits Guarantee Department of the United Kingdom, Hermes of Germany, Compagnie Française d'Assurance pour le Commerce Extérieur of France, the Korea Export-Import Bank, and the Korea Trade Insurance Corporation.

Aquatech International, a Canonsburg, Pa.-based small business engaged in the transaction, will provide water-treatment equipment for the complex. The company specializes in zero-liquid-discharge treatment, water reuse, and desalination.

"We at Aquatech are very pleased that the board of directors of Ex-Im Bank has approved the financing for the Sadara project," said Venkee Sharma, president and CEO of Aquatech. "This particular project has helped Aquatech to retain 50-plus jobs at its Canonsburg, Pa. facility, as well as numerous jobs within our supply chain. Ex-Im Bank has had a positive impact on our continued growth and job creation for the last two decades."

Saudi Arabia accounted for $2 billion of Ex-Im Bank’s credit exposure as of the end of FY 2011, and during the same year the Bank authorized $1.4 million in financing for the export of American goods and services to the Kingdom.

In FY 2012 to date (the present transaction excluded), Ex-Im Bank has approved approximately $3.9 billion worth of authorizations in the Middle East and North Africa.

EXPORT-IMPORT BANK BACKS AIRCRAFT SALE IN BRAZIL

Map Credit:  CIA World Factbook.

FROM: U.S. EXPORT-IMPORT BANK

Ex-Im Authorizes $900,000 in Export Insurance
to Back Texas Small Business’s Aircraft Sale in Brazil;
Supports 135 Jobs in Texas
Washington, D.C. – The Export-Import Bank of the United States (Ex-Im Bank) has authorized credit insurance to support the export by Air Tractor Inc. of nearly $900,000 worth of American-made crop-spraying aircraft to a biofuel and soybean grower in Brazil.

This Bank-supported export sale is the twentieth of approximately forty similar deals expected to benefit Air Tractor this year. The total body of export sales will support 135 American jobs in Olney, Texas, both in production and in sales management.

"We’re glad to see Air Tractor -a small business in Texas- winning this sale to Brazil, which is one of our nine key markets," said Ex-Im Bank Chairman and President Fred P. Hochberg. "This export transaction continues the long relationship we have had with Air Tractor that helped them dramatically grow their foreign sales while supporting American jobs."

Air Tractor employs 270 people to build its aircraft and custom equipment. Since 1972, the Air Tractor line has sold about 2,800 aircraft to buyers on six continents. Over the past 17 years, Air Tractor has utilized Ex-Im Bank’s medium-term insurance to export an estimated $70 million worth of its aircraft, primarily to small private-sector buyers in Argentina and Brazil. In 2009 and 2011, Air Tractor also obtained Bank-guaranteed working capital loans.

"The export finance products of Ex-Im Bank have been invaluable to Air Tractor in supporting our growth in the international market over the last 15 years," said David Ickert, chief financial officer for Air Tractor. "We continue to look to Ex-Im Bank for support as we expand our export sales in the future. The Bank’s products and hard-working employees are key to our export growth and job creation."

The financing will support the export of Air Tractor’s model AT-502B, a single-engine turbo prop aircraft outfitted with a 500-gallon hopper that can be utilized both to extinguish fires and to spray crops. The aircraft is specifically adapted to operational conditions in Brazil’s State of Mato Grosso.

Taua Biodiesel Ltda, headquartered in Nova Mutum, Brazil, purchased the medium-sized Air Tractor equipment for its agricultural operations. The Taua group produces biodiesel fuel, vegetable oil, and soybean meal on 40,000 acres now under cultivation. Taua plans to increase its operation to 100,000 hectares by 2015.

Ex-Im Bank concentrates market development efforts in Brazil because of that country’s massive and growing consumer population, which welcomes goods stamped "Made in USA." The Bank’s exposure in Brazil as of the end of fiscal year 2011 amounted to $2.7 billion.

EXPORT-IMPORT BANK BUSINESS-DEVELOPMENT MISSION IN CHINA

Map Credit:  U.S. State Department
FROM:  U.S. EXPORT-IMPORT BANK, CHINA, FINANCING FOR CHINESE COMPANIES, U.S.-CHINA TRADE 
Ex-Im Bank Chairman Concludes China Business Development Trip

Chongqing, China – Fred P. Hochberg, the chairman and president of the Export-Import Bank of the United States (Ex-Im Bank), led a business-development mission in China this week where he met with local officials and identified new business opportunities for American companies. Hochberg traveled to Beijing, Chengdu, Tianjin, and Chongqing.


“China is a dynamic market, and there are enormous opportunities for American businesses to sell to Chinese customers,” said Hochberg. “Over the next several years, China is expected to make significant infrastructure investments, and U.S. companies, workers, and products should be involved in those projects.”


While in China, Hochberg met with leading business organizations, including members of AmCham Southwest China and PCH International. Hochberg also held meetings with Vice Governor Gan Li, Mayor Ge Honglin, Mayor Huang Qifan, and Party Secretary Zhang Dejiang.


Ex-Im Bank’s volume is increasing in China. In FY'12 year-to-date, the Bank has authorized $1.2 billion in financing for Chinese companies that purchased U.S. goods and services, up from $586 million in FY’11. As of July 2012, China ranked fourth in new authorizations for Ex-Im Bank.


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.

EXPORT-IMPORT BANK FINANCES U.A.E. POWER PLANT FOR $2 BILLION

FROM:  U.S. EXPORT-IMPORT BANK
Ex-Im Approves $2 Billion in Financing for Nuclear Power Plant in U.A.E.;
Project will Support 5,000 U.S. Jobs in 17 States
Washington, D.C. – In a decision that will support thousands of American jobs, the board of the Export-Import Bank of the United States (Ex-Im Bank) has authorized a $2 billion direct loan to the Barakah One Company of the United Arab Emirates (U.A.E.) to underwrite the export of American equipment and service-expertise for the construction of a nuclear power plant in the Emirate of Abu Dhabi, U.A.E.

According to estimates derived from U.S. Census Bureau statistics, the line of credit will support approximately 5,000 American jobs across 17 states.

The transaction will finance the construction of the first nuclear power plant on the Arabian Peninsula, which upon completion will number among the the largest nuclear-generating facilities in the world. Additionally, the loan ranks as Ex-Im Bank’s largest transaction in the U.A.E. to date and counts as Ex-Im Bank’s first greenfield nuclear-plant financing since the late 1990s.

"The 5,000 American jobs figure speaks volumes about the importance of the transaction to the U.S. economy," said Ex-Im Bank Chairman and President Fred P. Hochberg. "But in addition to bolstering American jobs, Ex-Im Bank will make history by backing the construction of the first nuclear power plant on the Arabian Peninsula."

The National Security Council and the Departments of State and Energy all support the transaction. Moreover, the U.S. and U.A.E. co-signed "U.S. – U.A.E. 123 Agreement for Peaceful Civilian Nuclear Energy Cooperation" in 2009 and the "Arrangement Between the Nuclear Regulatory Commission of the U.S. and the Federal Authority for Nuclear Regulation of the United Arab Emirates For the Exchange of Technical Information and Cooperation in Nuclear Safety and Security Matters" in 2010.

Barakah One Company plans to erect four nuclear reactor power-generating units on a coastal strip along the Arabian Gulf approximately 220 kilometers from the city of Abu Dhabi, a site chosen in light of seismic, socio-economic, and environmental factors. The reactors, supplied by the Korea Electric Power Corporation (KEPCO) and based on the state-of-the-art APR 1400 design, will come online at one-year intervals effective 2017 and yield an aggregate capacity of 5,600 megawatts gross electricity.

Westinghouse Electric Company LLC, a Pittsburgh, Pa.-based group company of Toshiba Corporation, is the largest exporter involved in the transaction and will provide the reactor coolant pumps, reactor components, controls, engineering services, and training. Employing approximately 9,000 people in the United States, the company retails fuel, technology, plant design, and equipment to customers in the nuclear power industry. Westinghouse nuclear power plants are currently under construction in China and the United States, among others.

"Westinghouse is delighted that the financing for Emirates Nuclear Energy Corporation four-unit Barakah project has been approved by the Bank’s Board of Directors, and we remain dedicated to ensuring an effective implementation of the project and related loan," said Ric Perez, the president and chief operating officer of Westinghouse Electric Company. "This work will create and sustain U.S. jobs in California, Connecticut, New Hampshire, Ohio, Pennsylvania, South Carolina, Texas and other states home to Westinghouse sub-suppliers. Within Westinghouse alone, the Barakah project will allow us to maintain about 600 U.S. jobs. In addition, the Bank’s support will sustain hundreds of well-paying jobs at Westinghouse’s U.S. sub-suppliers and indirect jobs in the service industry."

Ex-Im Bank, in conjunction with various U.S. and U.A.E. governmental agencies, has conducted a detailed and extensive risk assessment of the project. The U.A.E. invited the Integrated Regulatory Review Service of the International Atomic Energy Agency (IAEA) to examine the nation’s nuclear regulatory framework. Likewise, the Federal Authority for Nuclear Regulation of the U.A.E. established an internal task force to address the safety implications and lessons-learned of the Fukushima accident and to establish a process of outreach to the IAEA and other nuclear regulatory bodies throughout the world.

Along the same lines, the U.A.E. has entered into a number of important treaties and conventions pertaining to the nuclear sector and has signed bilateral agreements on the same subject with the U.S., Korea, France, and Japan, among others.


As of the end of FY 2011, the U.A.E. accounted for approximately $3.7 billion of the Bank’s worldwide credit exposure, and in the same year the Bank approved a total of $415 million in authorizations to support American exports bound for the country.