Chair Lewis Announces Export-Import Bank of the U.S.’ Resolution and Toolkit Supporting Small Modular Reactor Nuclear Projects
Dubai, U.A.E. – Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis today announced the EXIM Board of Directors’ recent approval of a resolution to fund applications for the export of U.S small modular reactor (SMR) systems and components. The announcement was highlighted in a White House fact sheet and at the 2023 United Nations Climate Change Conference (COP28). The resolution and accompanying Toolkit document highlight how EXIM’s unique financing tools can support the export of U.S. SMR designs and provide large-scale, flexible financing needed to bring them to fruition.
“The potential of nuclear energy to address both decarbonization and the growing demand for electricity is clearer than ever before,” said Chair Lewis. “I am proud that EXIM’s Board of Directors took this important step to emphasize EXIM’s deep commitment that EXIM remains ready and willing to fund creditworthy applications for U.S. SMR exports, which will drive the global energy transition.”
Chair Lewis was joined by Ambassador Bonnie Jenkins, Under Secretary of State for Arms Control and International Security and David Livingston, Dr. Matthew Opoku Prempeh, Minister of Energy for Ghana, Frederic Beauregard Tellier, Director General for Nuclear Energy at Natural Resources Canada, Senior Advisor and Managing Director for Energy in the Office of the U.S. Special Presidential Envoy for Climate, and Melanie Nakagawa, Chief Sustainability Officer at Microsoft, for the announcement at an event focused on promoting the global deployment of new nuclear energy technologies.
The EXIM Board resolution addresses significant global interest in deploying U.S. SMR nuclear energy systems to support critical climate and energy security goals and makes clear EXIM’s willingness to approve qualified applications without the need for new policy changes by the agency. It is also designed to promote a range of new and flexible EXIM financing tools, which include support for pre-export payments, capitalized interest, 22-year tenors and more, to create clarity for many potential borrowers and other project parties.
The EXIM Small Modular Reactor Financing Toolkit can be found here.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.