Export Finance Australia and Export-Import Bank of the United States Single Point of Entry “Open for Business”
Washington, DC – Export Finance Australia (EFA) and Export-Import Bank of the United States (U.S. EXIM) have further enhanced their strong bilateral relationship today by officially announcing the single point of entry (SPE) for critical minerals, previously announced on October 25, 2023, by President Biden and Prime Minister Albanese is “open for business.”
Managing Director and CEO of Export Finance Australia, John Hopkins, and President and Chair of the U.S. EXIM Board of Directors, Reta Jo Lewis, met in Sydney to make this important announcement and discuss other opportunities to improve bilateral cooperation.
“EXIM is here to in Australia to build upon and continue our strong U.S.-Australian partnership in security and economic prosperity. The single point of entry means that Australian and U.S. critical minerals businesses may now approach U.S. EXIM or EFA and receive streamlined access to both agencies’ financing support,” said Chair Lewis.
In addition to the SPE, Mr. Hopkins and Chair Lewis discussed further opportunities to enhance EFA and U.S. EXIM’s close working relationship, in line with the broader close Australian and United States bilateral relationship.
This includes shared engagement through the Quad Export Credit Agency Memorandum of Cooperation, opportunities to work together in Southeast Asia and areas of cooperation under the EFA and U.S. EXIM reinsurance agreement.
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. Learn more at www.exim.gov.
About Export Finance Australia (EFA):
EFA is Australia’s export credit agency. EFA provides commercial finance for export trade and overseas infrastructure development. From small and medium-sized enterprises to large corporates, foreign Governments and infrastructure project, EFA helps Australian businesses take on the world. In doing so, EFA’s finance supports Australia’s economic security and regional resilience.
EFA administers the Australian Government’s National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific. EFA also provides support to other Commonwealth entities, including the National Reconstruction Fund Corporation, Housing Australia and the Northern Australia Infrastructure Facility.