ANNOUNCEMENT 11 Feb 2021

In February 2021, the Export-Import Bank (EXIM) approved a trade finance operation to support local companies.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

USAspending.gov. Award profile. Summary.
https://www.usaspending.gov/award/ASST_NON_09279786ST1016_8300

Export-Import Bank of the United States (EXIM), Financing Solutions, Export Credit Insurance. Available at: https://www.exim.gov/what-we-do/export-credit-insurance

Inception date: 11 Feb 2021 | Removal date: open ended

Trade finance

On 11 February 2021, the Export-Import Bank of the United States (EXIM) granted trade finance support to multiple undisclosed exporters. The objective of the transaction was to support local companies and had a total value of USD 17.5 million. GLOBAL EXPORT MARKETING CO., LTD. acted as intermediary.

According to EXIM, its mission is to provide trade finance 'in cases where the private sector is unable or unwilling to provide financing or when such support is necessary to level the playing field due to financing provided by foreign governments to their exporters that compete with U.S. exporters'.

Notably, the bank is a fully government-owned corporation and acts as an independent executive agency.

EXIM is the export credit agency of the United States that provides competitive financing to businesses to facilitate the export of U.S. goods and services to foreign buyers. EXIM provides direct loans, loan guarantees, export credit insurance, and guarantees of working capital loans to help businesses compete in foreign markets.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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