Ex-Im Bank Named "Best Global Export Credit Agency"; by Trade Finance Magazine
Washington, D.C. -The Export-Import Bank of the United States has received the Best Global Export Credit Agency (ECA) Award for the second time and the Best ECA in the Americas Award for the fourth consecutive time Trade Finance Magazine announced on Thursday night.
Every day here at Ex-Im, we strive to create jobs and support American exports in new and innovative ways. We are honored to receive both of these awards in recognition of our performance, said Ex-Im Bank Chairman and President Fred P. Hochberg. These awards are testaments to the hard work of the Bank's employees on behalf of American exporters. We will continue our efforts to bolster U.S. jobs by promoting U.S. exports in the face of fierce global competition.
While export credit agencies across the world have become more flexible and innovative in the aftermath of the global financial crisis, Ex-Im Bank has truly led the pack in rolling out new initiatives, adjusting existing programs, and stepping up its direct lending to make sure that deals get done that benefit U.S. exporters and support American jobs, said Oliver O'Connell, editor of Trade Finance.
Additionally, Trade Finance recognized Ex-Im Bank for its involvement in six deals of the year, including the export of oil and refinery equipment to Mexico's Pemex; Boeing Dreamliners to Ethiopian Airlines; manufacturing equipment to Germany's GLOBALFOUNDRIES; Boeing B777 aircraft to Latam Airlines; satellites to Mexico; and LNG goods and services to the Australian Pacific LNG project.
An Ex-Im Bank representative received the awards on behalf of the Bank last night in New York City during the Trade Finance Awards Ceremony at the Roosevelt Hotel.
See also: Ex-Im Bank Recognized as World's "Best Export Credit Agency" by Trade and Forfaiting Review Magazine
ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.
Ex-Im Bank approved $35.8 billion in total authorizations in FY 2012 - an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales - also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country. For more information, visit www.exim.gov.
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