News

WASHINGTON – The Export-Import Bank of the United States (EXIM) Board of Directors voted unanimously today in favor of renewing a 90 percent guarantee of a $500 million facility for Citibank, N.A. under EXIM’s Supply Chain Finance Guarantee Program.

The facility allows suppliers of The Boeing Company to receive accelerated payments on accounts receivable due from Boeing, and helps Boeing provide their numerous suppliers with competitive financing options. The transaction is estimated to directly support over 2,100 jobs at the company and throughout their network in all 50 states.

“Boeing remains one of the United States’ top exporters and through their commitments to innovation and sustainability, it is squarely within EXIM’s mandate to support their workers and suppliers, especially the numerous small businesses within their vast supply chain,” said EXIM President and Board Chair Reta Jo Lewis.

EXIM estimates the Supply Chain Facility will support approximately $982 million in export sales of various models of commercial aircraft to airlines around the world. The Board first approved the transaction in May, taking final action today following the conclusion of the required Congressional notification period.

ABOUT EXIM:

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. Since 1992, EXIM has generated about $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.

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