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EX-IM BANK CHAIRMAN PROMOTES U.S. EXPORTS TO UKRAINE DURING BUSINESS DEVELOPMENT MISSION TO KIEV

FOR IMMEDIATE RELEASE May 25, 2004

Media Contact Name/Phone: 

Andrew Yarrow (202) 565-3200

KIEV, UKRAINE- Export-Import Bank of the United States (Ex-Im Bank) Chairman Philip Merrill met with a range of Ukrainian government officials and business leaders during a visit to Kiev this week to to promote expanded U.S. exports to Ukraine.

Ukraine is an important partner of the United States, and we hope to deepen that partnership through expanded trade, Merrill said. Both Ukraine and the United States can benefit from increased U.S. exports to Ukraine. Ex-Im Bank is committed to assist in that process.

Ex-Im Bank can provide short- and medium-term financing for U.S. exports to private- and public-sector buyers in Ukraine and long-term financing for public-sector buyers. The city of Kiev is also eligible for financing under the Bank's Sub-Sovereign Program.

Merrill, who was accompanied by other senior Ex-Im Bank officials, is scheduled to meet with Ukrainian Prime Minister Viktor Yanukovych, First Deputy Prime Minister Mykola Azarov, Deputy Prime Minister Andriy Klyuyev, Minister of Transportation Hryhoriy Kirpa, Minister of Foreign Affairs Kostyantyn Gryshchenko, Minister of the Economy and European Integration Mykola Derkach, Governor of the Central Bank Serhiy Tyhypko, and Kiev Mayor Alexander Omelchenko.

Ex-Im Bank recently approved transactions to support the export of U.S. agricultural equipment to an agribusiness in southern Ukraine with the guarantee of Ukraine's Privat Bank as well as radio and television communications equipment with the guarantee of Nadra Bank. The Bank has supported projects in 16 of the 27 countries of Central and Eastern Europe and Central Asia, and has about $3.5 billion in exposure in the region.

Ex-Im Bank this year marks its 70th 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 2003, Ex-Im Bank, an independent federal agency, authorized financing to support $14.3 billion of U.S. exports worldwide. For more information on Ex-Im Bank, visit www.exim.gov.