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Chairman Reed Highlights EXIM’s COVID-19 Relief Measures, China Program at TXF Global 2020 Panel

Joins Peers from Canada, France, Spain, and Denmark for Discussion on Global Export Credit Agencies

FOR IMMEDIATE RELEASE June 3, 2020

Media Contact Name/Phone: 

Office of Communications (202) 565-3207

WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today appeared on a pre-recorded panel, moderated by Managing Director and Co-Founder of TXF Dan Sheriff, along with four other Export Credit Agency (ECA) heads to discuss the global export market. The panel was aired to more than 1,600 registrants as part of TXF’s annual conference “TXF Global 2020: Export, Agency & Project Finance.”

Also joining the panel were:

  • Kirstine Damkjær, CEO, EKF, Denmark
  • François Lefebvre – General Manager, Bpifrance, France
  • Mairead Lavery – President and CEO, EDC, Canada
  • Fernando Salazar – Chairman and CEO, CESCE, Spain

Chairman Reed underscored EXIM’s commitment to supporting U.S. businesses as they face challenges from the COVID-19 pandemic. She also discussed EXIM’s new Program on China and Transformational Exports, established in EXIM’s historic 7-year 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.

“The COVID-19 pandemic has drastically affected the global export market, and I appreciate the discussion with my counterparts around the world on measures to ensure liquidity relief for our customers during this challenging time,” said Chairman Reed. “I am committed to working to ensure a level playing field for American exporters, while also seeking to gradually reduce the global reliance on export credit agencies.”

EXIM was one of the first ECAs to implement emergency measures in response to COVID-19. EXIM’s temporary COVID-19 relief measures include waivers, deadline extensions, streamlined processing, and flexibility for its working capital loan guarantee and export credit insurance programs. EXIM’s Board of Directors also unanimously adopted a resolution affirming support of additional temporary relief measures including bridge financing, progress delivery payment financing, supply chain finance guarantees, and working capital guarantee expansions.

TXF provides news, analysis, and events specialized in trade, export and commodity finance.

ABOUT EXIM:

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.