FOR IMMEDIATE RELEASE April 2, 2000
Marianna Ohe (202) 565-3200
The Export-Import Bank of the United States (Ex-Im Bank) and Banco do Brasil will conduct joint marketing seminars in five Brazilian cities April 3-7 to encourage more small and medium-sized Brazilian companies to buy US goods and services, with the support of Ex-Im Bank and Banco do Brasil financing programs.
Ex-Im Bank Business Development Officer Veronique M. Cavaillier and Banco do Brasil officials will participate in marketing seminars at Banco do Brasil offices in Curitiba April 3, Porto Alegre April 4, Sao Paulo April 5, Rio de Janeiro April 6, and Belo Horizonte April 7.
We want to open the door wider for US companies into the important Brazilian market by educating more small and mid-size Brazilian companies about Ex-Im Bank's competitive credit terms that will enable them to expand their trade with US exporters, said Ex-Im Bank Chairman James A. Harmon.
Ex-Im Bank is open under all its programs in both the public and private sectors in Brazil, which is Ex-Im Bank's third largest market worldwide. In the first six months of fiscal year 2000, Ex-Im Bank authorized $3.04 billion in financing in support of US exports to Brazil.
Ex-Im Bank's $1 billionguarantee and export credit insurance program in Brazil, initiated in 1998, is intended to assist Brazilian businesses in purchasing US goods and services under its short-and medium-term programs. Seven pre-approved Brazilian banks including Banco do Brasil are participating with Ex-Im Bank in the program. The other banks are: Banco Bradesco, Banco Itau, Unibanco, HSBC Brasil, Banco Santander and Banco Brascan.
In addition to promoting increased use of this program by the Brazilian business community, Cavaillier will explore opportunities to set up similar initiatives with smaller private Brazilian banks.
Ex-Im Bank is an independent US government agency that helps finance the sale of US exports primarily to emerging markets throughout the world, by providing loans, guarantees, and insurance. Worldwide in fiscal year 1999, Ex-Im Bank supported nearly $17 billion in exports