FOR IMMEDIATE RELEASE March 9, 2005
Phil Cogan (202) 565-3200
Washington, DC - When buyers or financial institutions in Turkey want to research the many ways that the Export-Import Bank of the United States (Ex-Im Bank) may help them acquire quality U.S. goods and services they now have a choice: English or Turkish.
That's because Ex-Im Bank has just unveiled its third bilingual web portal on its web site at www.exim.gov. Starting today U.S. exporters, Turkish buyers and financial institutions from both countries will be able to choose either English or Turkish language versions of key Ex-Im Bank information. The web pages explain how Ex-Im Bank may be able to assist creditworthy Turkish buyers of U.S. goods or services, or U.S. exporters, who may not be able to obtain financing from private sector sources at reasonable commercial terms.
Ex-Im Bank is committed to supporting exports of U.S. goods and services to Turkey, according to Executive Vice President Jim Lambright. The Turkish portal on our web site will make it easier for Turkish buyers and financial institutions to learn about Ex-Im Bank's programs, and that will help grow our business with Turkey, Lambright said.
Ex-Im Bank's current exposure in Turkey is approximately $3 billion, representing the Bank's fourth largest market. Turkey ranks behind only China, Mexico and Brazil.
The expansion of the Bank's business in Turkey has followed the Turkish government's commitment to economic reform and the development of a hospitable investment climate. Annual authorizations for Turkey have averaged $225 million, a figure that should increase as the demand for U.S. capital goods and Turkish entities capacity to borrow continue to improve.
American companies interested in exporting goods and services to Turkey can now access that information directly at http://www.exim, and Turkish companies seeking financing to purchase U.S. goods and services, can now access the Turkish language version of that information at (page under construction).
Ex-Im Bank currently has two other country-specific, bilingual web portals available. The Russia (Russian and English languages) and Mexico (Spanish and English language) portals may also be accessed on the Bank's Internet home page at www.exim.gov. Similar multi-lingual, country-specific portals are under development for other regions of the world.
Ex-Im Bank this year marks its 71st 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 2004, Ex-Im Bank, an independent federal agency, authorized financing to support approximately $17.8 billion in U.S. exports worldwide, a 25% jump from a year earlier. For more information on Ex-Im Bank visit //www.exim.gov.