Export-Import Bank of the United States Board of Directors Approves Loan Guarantee for Acrow Corporation Bridge Project in Angola
WASHINGTON, DC – Today, the Board of Directors of the Export-Import Bank of the United States (EXIM) approved a final commitment loan guarantee for more than $363 million to support the export of Acrow Corporation’s goods and services to Angola. EXIM financing for this transaction will support the export of prefabricated modular steel bridges and related equipment for the construction of bridge infrastructure throughout the country.
“Today’s vote continues to advance the fulfillment of EXIM’s Congressional mandate to expand our outreach in sub-Saharan Africa,” said EXIM President and Chair Reta Jo Lewis. “I am pleased that EXIM is able to leverage its financing capabilities to further support President Biden’s Partnership for Global Infrastructure initiative while increasing the competitiveness of an American small business.”
The transaction is expected to support 600 American jobs across 18 states.
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 overall U.S. debt. Learn more at www.exim.gov.