Export-Import Bank of the United States

Office of Communications

FOR IMMEDIATE RELEASE

February 6, 2004


CHAIRMAN MERRILL HIGHLIGHTS AVAILABILITY OF EX-IM BANK FINANCING DURING TRADE MISSION TO INDIA


Contact: Andrew Yarrow (202) 565-3200

EX-IM BANK CHAIRMAN CONCLUDES THREE-CITY TRADE MISSION TO INDIA
Philip Merrill Highlights Availability of Ex-Im Bank Financing

NEW DELHI, INDIA - The Export-Import Bank of the United States (Ex-Im Bank) can help Indian companies finance the purchase of U.S. exports, Bank Chairman Philip Merrill said during a trade mission to India this week that included meetings and speeches in Mumbai, Chennai, and New Delhi.

"Ex-Im Bank offers financing to help foreign buyers of all sizes - small, medium, and large - purchase advanced goods and services to grow their businesses, capitalize on new technologies, and enter new markets," Merrill said in a speech to Indian business, banking, and government leaders. "These are some of the reasons it is in India'ss interests to leverage its borrowing capacity to buy more from the United States."

Philip Merrill

Merrill met with Indian and U.S. business leaders as well as leaders of the Reserve Bank of India, Indian Ex-Im Bank, and the Industrial Development Bank of India in Mumbai on February 3 and 4. Merrill met with information technology executives in Chennai on February 5, and with India's finance minister and business leaders in New Delhi today.


Ex-Im Bank has more than $1 billion in exposure in India. The Bank's financing has helped Indian companies such as Jet Airways purchase commercial aircraft,
 
Indian Oil Corporation buy equipment and services for a petrochemical refinery, and a number of Indian information technology companies purchase U.S.-made software. < Ex-Im Bank this year marks 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, an independent federal agency, authorized financing to support $14.3 billion of U.S. exports worldwide. For more information, visit www.exim.gov.

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