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  • 1. Ex-Im Bank in Sub-Saharan Africa 2006 AGOA Summit, Washington DC Ministerial Forum Linda Conlin Member, Board of Directors June 6, 2006
  • 2. Ex-Im Bank Introduction
    • Official export credit agency of the United States
    • Mission: assist in finance of the export of U.S. goods and services to international markets
    • Not a development agency; must have reasonable assurance of repayment
    • Does not compete with private sector lenders, but assumes credit and country risks that the private sector is unable or unwilling to accept
    • With more than 70 years of experience, Ex-Im Bank has supported more than $400 billion in exports
  • 3. How Does Export-Import Bank Fit In? State Department gives foreign policy guidance – U.S. Embassies Commerce Department provides information, counseling and expertise - FCS U.S. Trade & Development Agency provides project planning funding and assistance OPIC provides project finance and investment insurance Export-Import Bank finances exports through varied term programs and insurance
  • 4. What Ex-Im Bank Does
    • EXPORT FINANCE SOLUTIONS
      • Working Capital Guarantees (pre-export)
      • Short and Medium-Term Insurance
      • Medium- and Long-Term Loan Guarantees
        • Up to 15-year repayment terms for environmentally beneficial renewable energy and water/wastewater projects
      • Structured/Project Finance
  • 5. Ex-Im Bank in Sub-Saharan Africa
    • Short Term : 44 out of 48 SSA countries
    • Medium Term (up to 5 yrs): 25 SSA countries
    • Long Term : 12 SSA countries
    • Long Term Project Finance : 47 SSA countries
  • 6. Number of Transactions in Sub-Saharan Africa
  • 7. Ex-Im Bank in Sub-Saharan Africa
    • Approved 115 transactions for $ 462 million in 20 countries in Sub-Saharan Africa.
  • 8. Ex-Im Sub-Saharan Africa Initiative
    • Sub-Saharan Africa is a priority region, as outlined by Ex-Im’s Charter
    • Establishment of SSA Advisory Committee
    • Africa Business Development Group
      • Africa Newsletter to for U.S. exporters and African buyers
    • Short-Term Insurance Pilot Program (STIPP) makes insurance available to exports to 19 SSA countries that would otherwise be ineligible for Ex-Im support
    • USTDA initiative
  • 9.
    • Nigerian Oil and Gas Subcontractor Initiative
      • In an effort to increase local employment – oil companies must give service contracts for operations to local companies
      • Local companies need to gain access to U.S. goods and services to fulfill contracts.
      • NNPC developing standards to qualify local companies
      • Local companies do not always meet credit standards; new structure envisioned to:
        • 1) Enhance local company credit and debt capacity
        • 2) Ensure debt repaid through contractual payments
    Ex-Im Sub-Saharan Africa Initiative
  • 10. Sub-Saharan Africa Success Stories
    • Mauritius
    • An Ex-Im Bank short-term insurance policy covered the sale of over $600,000 of cotton yarn to Socota Textile Mills, Ltd., of Curepipe, Mauritius and Consolidated Fabrics, Ltd., of Solitude, Mauritius.
    • The U.S. yarn inputs were used for manufacturing purposes in Mauritius
      • mutually beneficial trade in line with mission of AGOA
  • 11. Sub-Saharan Africa Success Stories
    • Oil and Gas
    • Nigeria: LNG
      • Ex-Im financed $115 mn of an LNG plant in Nigeria out of $1.9 total project costs. LNG Delivered to Europe and US East Coast.
    • Angola: Cabinda Oil Wells
      • Project financing allowed US exporter to complete its sale contract of $200 mn for the development of oil wells off the coast of Angola.
  • 12. International Business Development
    • John Richter, Regional Director
      • E-mail: [email_address]
      • Tel: 202-565-3903 / Fax: 202-565-3839
    • Ricardo Michel, Business Dev. Officer
      • E-mail: [email_address]
      • Tel: 202-565-3916 / Fax: 202-565-3961
    • Internet: http://www.exim.gov
    • E-mail: [email_address]