*EPF206 07/15/2003
Text: Ex-Im Bank Program Aims at Transportation Security Exports
(Longer repayment schedule, higher local cost coverage allowed) (470)

The Export-Import Bank of the United States (Ex-Im Bank) is offering more generous finance deals for U.S. exports of products for foreign projects aimed at improving transportation security, an Ex-Im press release says.

The July 14 release says the new program will support U.S. exports for screening passengers, baggage and cargo and for improving data collection and communications.

The program will allow longer than usual time for repayment and cover a higher proportion of local costs in support of the exports.

Following is the text of the press release:

(begin text)

EX-IM BANK ANNOUNCES TRANSPORTATION SECURITY EXPORT PROGRAM

Washington, D.C. -- The Export-Import Bank of the United States (Ex-Im Bank) announced today a new Transportation Security Exports Program. It provides enhanced financing for U.S. exports of products and services that improve the security of international transportation systems. Enhanced export financing will be available to support U.S. exports of machinery, equipment, goods, and services for a wide range of security-related functions, including:

-- Screening and identification of cargo, baggage and passengers;
-- Data collection and analysis;
-- And communications.

"Ex-Im Bank's Transportation Security Exports Program is designed to help U.S. exporters provide state-of-the-art equipment, technology, and services to countries that are seeking to improve the security of their cross-border transportation systems," said Ex-Im Bank Chairman Phillip Merrill. "We anticipate that our financing enhancements will be very attractive to buyers involved in foreign transportation security projects."

Under the new program, Ex-Im Bank will offer financing enhancements for exports related to U.S. transportation security or for foreign transportation security projects, similar to the Bank's enhanced financing for environmentally beneficial exports or exports of medical equipment. These enhancements are: 1) the maximum allowable repayment terms under the guidelines of the Organization for Economic Cooperation and Development, and 2) support for local costs up to 15 percent of the U.S. net contract value.

Ex-Im Bank's Transportation Security Exports Program is now available in every country where the Bank is currently open to provide export financing. Ex-Im Bank's initiative complements a number of other U.S. government programs, such as the Secured Trade in the APEC [Asia Pacific Economic Cooperation] Region (STAR) initiative to increase international security cooperation among the nations of the Asian Pacific region and the "Smart Border" programs with Mexico and Canada.

Ex-Im Bank is the official U.S. export credit agency that helps finance the sales of U.S. exports, primarily to developing markets, by providing loan guarantees, export credit insurance and direct loans. In FY [fiscal year] 2002, Ex-Im Bank authorized financing to support approximately $13 billion of U.S. exports worldwide.

(end text)

(Distributed by the Bureau of International Information Programs, U.S. Department of State. Web site: http://usinfo.state.gov)

Return to Public File Main Page

Return to Public Table of Contents