ANNOUNCEMENT 26 Feb 2010

In February 2010, the U.S. Exim bank provided trade finance to General Electric Energy Parts, Inc.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

USAspending.gov. Award profile. Summary.
https://www.usaspending.gov/award/ASST_NON_07083340XC0001_8300

EXIM Bank of the United States. Data. Authorizations From 10/01/2006 Thru 12/31/2020.
https://data.exim.gov/dataset/Authorizations-From-10-01-2006-Thru-12-31-2020/vbhv-d8am/
with deal.number = AP083340XC
unique_identifier = 07083340XC0001

Export-Import Bank of the United States (EXIM), Financing Solutions, Direct Loan. Available at: https://www.exim.gov/what-we-do/direct-loan

Inception date: 26 Feb 2010 | Removal date: open ended

Trade finance

On 26 February 2010, the Export-Import Bank of the United States (EXIM) approved funding to support exports from General Electric Energy Parts, Inc. The bank approved a USD 267.4 million loan to Saudi Electricity Company located in Saudi Arabia. The loan will support the purchase of products or services classified by the bank under the category 'Steam, Gas, and Hydraulic Turbines, and Turbine Generator Set Units' from the US company.

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'.

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.