Export-Import Bank of the United States Board of Directors Approves Nearly $168 Million in Loan Guarantees for Korean Air Lines, Supporting Approximately 1,000 U.S. Jobs
WASHINGTON – The Export-Import Bank of the United States (EXIM) Board of Directors today unanimously approved two transactions to guarantee approximately $167.5 million to finance Korean Air Lines’ purchase of aircraft from The Boeing Company.
With the input of many small- and medium-sized business suppliers across the United States, the aircraft are assembled and exported from Boeing’s facility in Renton, Washington. The aircraft are powered by engines manufactured by CFM International in Cincinnati, Ohio. In total, the transactions are estimated to support approximately one thousand U.S. jobs.
“These loan guarantees benefit hundreds of suppliers and sub-suppliers across the United States,” said President and Chair Reta Jo Lewis. “These companies are the lifeblood of many communities, and by approving transactions like these, EXIM continues to demonstrate our commitment to helping U.S. companies of all sizes compete globally.”
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. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.