Financing Flexibility to US Exporters
To bolster American businesses and workers and their families in response to the COVID-19 (coronavirus) global pandemic, the Export-Import Bank of the United States (EXIM) board of directors today underscored its strong support for new initiatives to inject liquidity into the market and give maximum financing flexibility to facilitate sales of U.S. goods and services abroad.
Specifically, EXIM’s board of directors, through its unanimous adoption of a resolution during an open board meeting with the public via teleconference, affirmed its support of the following temporary EXIM programs to provide relief to U.S. businesses their buyers, financial institutions, and American workers negatively impacted by COVID-19, 1: Bridge Financing Program; 2: Pre-Delivery / Pre-Export Financing Program; 3: Supply Chain Financing Guarantee Program; and 4: Working Capital Guarantee Program.
“We are focused on helping our great American businesses—especially our nation’s small businesses—have the support and flexibility they require, meet their liquidity needs, and succeed as our nation and the world grapple with the unprecedented challenges brought on by the COVID-19 global pandemic,” said EXIM President and Chairman Kimberly A. Reed. “EXIM leadership and staff have engaged in robust outreach to U.S. exporters and lenders to understand how we can help in this time of uncertainty and need. Today’s actions are a direct result of those conversations.
“EXIM’s board of directors speaks with one voice in support of these measures and we are totally committed to the growth of U.S. exports and jobs,” Reed added. “When our economy is under stress, access to EXIM resources is critically needed. The flexibility and responsiveness embodied in these measures will provide relief to our customers. We encourage them to continue to engage with us and bring any challenges to our attention.”
The resolution expresses the board’s support for the four temporary relief measures and “recognizes the importance of continuing to explore additional temporary relief measures to fulfill the mission” of EXIM in response to the COVID-19 global pandemic.
As part of our whole-of-government approach, the Export-Import Bank is taking targeted action today by extending assistance and offering relief to its customers in response to the coronavirus pandemic,” said United States Trade Representative Robert Lighthizer, also an ex-officio member of the EXIM board.
Key: EXIM Bank US, US exporters finance, India exports
