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EX-IM BANK DECLINES FINANCING REQUEST TO BACK PERU'S CAMISEA GAS DEVELOPMENT PROJECT

FOR IMMEDIATE RELEASE August 27, 2003

Media Contact Name/Phone: 

Phil Cogan or Bo Ollison (202) 565-3200

WASHINGTON, D.C. --- The Export-Import Bank of the United States (Ex-Im Bank) board of directors today denied on a split 2-1 vote an application for an approximately $200 million loan guarantee to support U.S. exports for Peru's Camisea gas development project.

This decision is situation specific and does not reflect the Bank's overall interest in financing U.S. exports for energy projects throughout the world, said Ex-Im Chairman Philip Merrill.

Ex-Im Bank is an independent federal government agency that helps finance the sale of U.S. exports by providing loans, guarantees, and export credit insurance. In fiscal year 2002 Ex-Im Bank authorized financing to support approximately $13 billion in U.S. exports worldwide.