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BP Solar in Linthicum, Maryland, exported 1500 photovoltaic energy panel systems to Argentina,* backed by an Ex-Im Bank guarantee of a loan from Allfirst Bank (now owned by M&T Bank) in Baltimore, Md. The U.S.-made solar energy panels generate electricity for individual homes and businesses in Argentina's Jujuy Province, where conventional distribution of electricity isn't feasible due to heavily forested terrain. The financing for BP Solar's export sale was provided under Ex-Im Bank's Environmental Exports Program, which provides enhanced financing terms for environmentally beneficial exports.

*At the present time, Ex-Im Bank is open in Argentina for short- and medium-term private sector trade finance transactions. In addition, Ex-Im Bank will consider structured financing arrangements such as Ex-Im Bank`s project finance program, asset-based aircraft leases, and other financing arrangements that offer a reasonable assurance of repayment.

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