FOR IMMEDIATE RELEASE November 16, 2000
Nancy Publicover at (202) 565-3200 or email@example.com
A $6 million guarantee from the Export-Import Bank of the United States (Ex-Im Bank) is enabling Sun Microsystems Inc., Palo Alto, Calif. to supply computer services, software, and installation services to the Philippine Long Distance Telephone Company (PLDT) and gain new ground in a strategic export market. PLDT is purchasing the equipment and services for an Internet data center, which will serve businesses throughout the region. Ex-Im Bank's guarantee is backing a 5-year loan to PLDT from Citibank, New York.
The telecommunications infrastructure market in general and the Internet data center (IDC) market in particular is a very important growth area for our company, said Tony Pio de Roda, Sun Microsystems Philippines chief operating officer and director for sales and marketing. For the PLDT group specifically we are optimistic that this will only be the first in a series of purchases from Sun for the IDC.
Ex-Im Bank is committed to helping build telecommunications infrastructure in emerging markets, said Ex-Im Bank Chairman James A. Harmon. This Internet data center is going to help bring more Philippine businesses into the global economy by helping them harness the power of the Internet and thus build future markets for U.S. goods and services.
Earlier this year, an $8 million Ex-Im Bank guarantee helped Citibank finance PLDT's purchase of computer equipment, test units and installation services from Porta Systems of Syosset, N.Y. PLDT expects to make additional U.S. equipment purchases as the work on the Internet data center project progresses.
The Philippine Long Distance Telephone Company is the country's principal supplier of domestic and international telecommunications services. The Internet data center will manage computer servers, applications and bandwidth needed by PLDT and its customers for their Internet and multimedia operations.
Ex-Im Bank is an independent U.S. government agency that helps finance the sale of U.S. exports primarily to emerging markets throughout the world, by providing loans, guarantees, and insurance. Ex-Im Bank supported over $400 million in high-technology exports in fiscal year 2000 — a 90 percent increase over fiscal year 1999. Total U.S. exports supported by Ex-Im Bank exceeded $15.5 billion in fiscal year 2000.