Export-Import Bank of the United States Signs Co-Financing Agreement with Finnvera
BRUSSELS – The Export-Import Bank of the United States (EXIM) today signed a co-financing agreement with Finnvera, the official export credit agency (ECA) of Finland, to strengthen the competitiveness of both agencies and create a one-stop shop facility that will provide joint support for U.S. and Finnish export projects. This agreement will facilitate collaboration in areas of high interest for both governments, particularly in the 5G telecommunications industry and support for climate friendly technology.
“This historic reciprocal co-financing agreement demonstrates the strong commercial relationship between our two nations,” said EXIM President and Chair Reta Jo Lewis. “Wireless communications are a central part of our transformational exports mandate. We are eager to play a role in open new exporting opportunities for U.S. and Finnish companies for transactions that will strengthen both of our economies. “
One-stop shop arrangements allow products and services from two (or more) countries to benefit from a single ECA financing package, streamlining the financing process and creating additional opportunities for both agencies named in the agreement. The co-financing agreement was signed by EXIM Chair Lewis and Finnvera’s Jussi Haarasilta, Executive Vice President and Management Group Member, and Pekka Karkovirta, Vice President for International Relations, during the Berne Union Spring meetings in Brussels, Belgium.
“This is a landmark agreement for us and for our customers. We are confident that this agreement creates new opportunities and will be a common platform for many transactions,” said Mr. Haarasilta.
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 more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.
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