Export-Import Bank of the U.S. Signs $200 Million Memorandum of Understanding with Banco de la República Oriental del Uruguay, Strengthening Partnerships in Mutual Areas of Interest
Washington, D.C. –Today, the Export-Import Bank of the United States (EXIM) and Banco de la República Oriental del Uruguay (BROU), Uruguay’s state-owned bank, signed a Memorandum of Understanding (MOU) securing a total of up to $200 million in potential financing to support U.S. exports to Uruguay in critical sectors, including agriculture, renewable energy, critical minerals, and infrastructure.
“This MOU underscores the United States’ commitment to strengthening our economic partnership with Uruguay while enhancing supply chain resilience and increasing opportunities for U.S. businesses in strategically important sectors,” said EXIM President and Chair Reta Jo Lewis.
The MOU was signed during a virtual ceremony at EXIM headquarters by Chair Lewis and Mariela Espino, CEO of BROU, and Gustavo Gomila, Assistant General Commercial Manager. The ceremony was attended by Marisa Lago, Under Secretary of Commerce for International Trade; Heide Fulton, U.S. Ambassador to Uruguay; Pablo Sitjar, CEO-Director General of BROU; and Andrés Durán, Uruguay Ambassador to the U.S.
“The MOU complements a wide range of ongoing cooperation between our two nations, including our cooperation in the areas of AI, cybersecurity, data flows and clean energy,” said Under Secretary Marisa Lago. “The U.S. Department of Commerce — both in Washington, DC and in Montevideo — looks forward to continuing this valuable work with EXIM, BROU and the Government of Uruguay.”
The MOU establishes a framework for EXIM and BROU to explore opportunities for utilizing EXIM’s medium- and long-term guarantees and direct loans. Projects eligible for EXIM financing must meet the agency’s requirements and comply with the procurement laws and regulations of Uruguay. While the MOU initially targets $200 million in U.S. exports, EXIM has no country-specific limit.
Notably, this is the first time EXIM has engaged in South America through an MOU of this nature, marking a significant breakthrough in its relationship to the region. The MOU also complements EXIM’s Supply Chain Resiliency Initiative (SCRI), approved earlier this month, which aims to strengthen supply chains and create jobs in the U.S. and Uruguay. This MOU builds upon years of engagement between the United States and Uruguay to strengthen economic ties, including through Americas Partnership for Economic Prosperity and the Agreement on Critical and Emerging Technologies.
“This memorandum exemplifies our shared commitment to strengthening trade ties and fostering economic growth for the benefit of businesses and communities in both our nations," said U.S. Ambassador to Uruguay Heide Fulton. “It promises to increase U.S. goods and services in Uruguay – advancing innovation, creating jobs, and building a brighter future for both our nations.”
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.
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