*EPF512 07/02/2004
Text: Modified Environmental Guidelines Approved by U.S. Ex-Im Bank
(Action makes them consistent with international agreement, Bank says) (660)

The Export-Import Bank of the United States (Ex-Im Bank) has approved a modified version of its environmental guidelines, which set minimum standards for and increase transparency of environmental-impact studies of projects it finances.

In a July 1 news release, Ex-Im Bank said it has revised its guidelines to make them consistent with an international agreement on the procedures and standards for environmental-impact studies of projects financed by export credit agencies. The agreement was approved in 2003 after several years of negotiations conducted under the auspices of the Organization for Economic Cooperation and Development (OECD).

In a December 2003 news release, the U.S. Treasury Department said that the agreement ensures the use of appropriate environmental standards and creates a level playing field for U.S. exporters who have had to comply with Ex-Im Bank's rigorous environmental guidelines while exporters from some other countries had not faced similar requirements.

Under the new guidelines, the Ex-Im Bank will conduct environmental impact assessment of a broader range of transactions and make such studies publicly available.

Following is the text of the news release:

(begin text)

Export-Import Bank of the United States

July 1, 2004

EX-IM BANK APPROVES NEW ENVIRONMENTAL GUIDELINES
Bank Acts to Support U.S. Exports While Maintaining Leading Environmental Standards

WASHINGTON, DC -- The Export-Import Bank of the United States (Ex-Im Bank) today approved a new version of its Environmental Procedures and Guidelines. The purpose of the revision was to make Ex-Im Bank's guidelines consistent with the Common Approaches for evaluating environmental impacts of projects supported by export credit agencies (ECAs) that the Organization for Economic Cooperation and Development (OECD) adopted in December 2003.

The revised Procedures and Guidelines provide that Ex-Im Bank will: continue to evaluate projects against international environmental guidelines as well as host country guidelines; conduct environmental impact assessments (EIAs) on a broader range of transactions; and make such EIAs publicly available for a minimum 30-day period. The guidelines were developed with input from nongovernmental organizations, exporters, and other government agencies.

The Bank also approved a new version of its Nuclear Procedures and guidelines to make them consistent with the Common Approaches.

"Ex-Im Bank is proud to maintain its high environmental standards by insuring that the environmental impact of projects is carefully reviewed," Ex-Im Bank Chairman Philip Merrill said. "At the same time, we are working to provide a level playing field for U.S. exporters in the international marketplace."

Ex-Im Bank's action enables it to continue to meet the environmental requirements of its Charter as well as its commitments under the December 2003 OECD Recommendation on Common Approaches on Environment and Officially Supported Export Credits. As part of its efforts to enhance the environmental stewardship set forth by the Common Approaches, Ex-Im Bank will continue to work with other U.S. government agencies to promote uniformity and transparency for the successful implementation of the Common Approaches among ECAs.

In 1995, Ex-Im Bank became the first ECA to adopt environmental guidelines for projects that it finances. The guidelines have been revised and extended several times. They require that the Bank make quantitative and qualitative assessments of projects in terms of their potential impact on air quality, water use and quality, waste management, natural hazards, ecology, involuntary resettlement, indigenous peoples, places of cultural significance, and noise.

Ex-Im Bank, the official U.S. export credit agency, is in its 70th year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance, and direct loans. In fiscal year 2003, Ex-Im Bank authorized financing to support $14.3 billion of U.S. exports. For more information, visit www.exim.gov. The guidelines are available at: http://www.exim.gov/products/policies/environment/environment.html.

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

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