FOR IMMEDIATE RELEASE October 9, 2006
Marianna Ohe (202) 565-3200
WASHINGTON, D.C. --- An $18.2 million Export-Import Bank of the United States (Ex-Im Bank) long-term loan guarantee is supporting the export by Diebold Global Finance Corp., North Canton, Ohio, of 1,000 automated teller machines to JSC Alliance Bank (Alliance) in Almaty, Kazakhstan.
Ex-Im Bank-backed $20 Million Sale of Diebold ATMs to Kazakhstan supports U.S Jobs, Kazakhstan's Banking Infrastructure
The machines will be assembled by Diebold workers at Diebold's Lexington, N.C., facility.
This agreement has helped us solidify our position with the customer as one of their preferred vendors, as we were able to match competitive financing offers from non-U.S. providers, said Bret Kushner, vice president of International Customer Finance at Diebold Global Finance.
Alliance will use the ATMs in its point-of-sale network within Kazakhstan, in remote locations of the Kazakh national post office, in new outlets and branches in cities throughout the country to be completed this year, and in consumer retail locations such as gasoline stations, markets, and sports complexes.
Ex-Im Bank is committed to expanding support for U.S. exports to Kazakhstan, said Ex-Im Bank Chairman and President James H. Lambright. The current transaction is proof that exports translate into U.S. jobs and economic growth in both countries.
Diebold has been an active user of Ex-Im Banks medium-term financing, but this is the first time they have used the long-term program, said Bruce Drossman, Director at Société Générale, whose affiliate, Societe Generale Financial Corp., New York, N.Y., is the guaranteed lender on the transaction. The current financing permits a longer repayment schedule because of the size of the transaction, and this is highly favorable for Alliance.
Alliance's focus has been on upgrading its technology platform and supporting the small business market, which has been historically underserved by the banking sector.
Diebold Global Finance is a subsidiary of Diebold, Incorporated, headquartered in Canton, Ohio.
Ex-Im Bank, the official export credit agency of the United States, is in its 72nd 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 2005, Ex-Im Bank authorized nearly $14 billion in transactions supporting almost $17.9 billion of U.S. exports. More than $2.6 billion of these authorizations, representing 2,617 transactions, directly supported U.S. small businesses as primary exporters. For more information, visit www.exim.gov