Outlines How EXIM Programs and Financing Tools Can Deliver Relief
FOR IMMEDIATE RELEASE June 16, 2020
Office of Communications (202) 565-3203
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today held a virtual discussion with the U.S. Chamber of Commerce and the American Chamber of Commerce in Italy (AmCham), outlining COVID- 19 relief measures for Italian companies that buy goods and services from the United States.
The Chairman discussed EXIM’s COVID-19 relief measures, the economic reopening of both countries, and President Trump’s Memorandum on Providing COVID-19 Assistance to the Italian Republic, which directs EXIM to use available authorities to support the recovery of the Italian economy. She also discussed opportunities for collaboration between EXIM and Servizi Assicurativi del Commercio Estero (SACE), Italy’s export credit agency.
Chairman Reed underscored how EXIM financing tools support transactions that benefit America’s exporters and workers while also helping Italy, one of the United States’ closest and oldest allies. The audience of more than 40 participants included businesses, lenders, and government representatives from the United States and Italy. Also participating in the event were:
- Marjorie A. Chorlins, Senior Vice President for European Affairs at the U.S. Chamber of Commerce.
- Luca Arnaboldi, President of the American Chamber of Commerce in Italy.
- Simone Crolla, Managing Director of the American Chamber of Commerce in Italy.
- Steve Renna, EXIM Chief Banking Officer.
- David Trulio, EXIM Senior Vice President for the Program on China and Transformational Exports.
- Isabel Galdiz, EXIM Vice President of International Relations.
“As Americans and Italians recover from the deadly effects of COVID-19, the strong economic and cultural ties between our two nations are more important and meaningful than ever,” said Chairman Reed. “While the U.S. government’s first responsibility is to the American people, we are a nation of compassion, and we want to help as much as we can. The U.S. Chamber of Commerce and the American Chamber of Commerce in Italy are critical in finding the opportunities where EXIM assistance is needed to address today’s unprecedented challenges.”
The event followed meetings Chairman Reed recently held via teleconference with U.S. Ambassador to Italy Lewis M. Eisenberg on June 10 and with Ambassador of Italy to the United States Armando Varricchio on June 8.
Chairman Reed also discussed EXIM’s new Program on China and Transformational Exports, established in EXIM’s historic reauthorization, which is intended to help level the playing field for U.S. exporters and workers by directly neutralizing export subsidies for competing goods and services offered by the People’s Republic of China. In May, EXIM launched its “Strengthening American Competitiveness” initiative, beginning with a series of teleconferences with American businesses and stakeholders. A full schedule of upcoming teleconferences and recordings of previous events can be found here.
“The commercial relationship between the United States and Europe is the largest and most important in the world,” said Chorlins. “Rejuvenating our economies in the wake of the pandemic and economic crisis will jumpstart global growth and promote an inclusive recovery. We look forward to collaborating with our partners at the U.S. Export-Import Bank, and our global network of American Chambers of Commerce, to expand trading opportunities with Italy and other partners in Europe.”
Complete information about EXIM’s COVID-19 response is available on the coronavirus response page.
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.