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EX-IM BANK DIRECTOR D. VANESSA WEAVER VISITS ROMANIA TO PROMOTE U.S. EXPORTS

Weaver Touts Strong Business Partnerships Created Through Trade That Benefits Both Countries

FOR IMMEDIATE RELEASE February 27, 2002

Media Contact Name/Phone: 

In Washington, D.C., Marianna Ohe (202) 565-3200- In Romania, please contact Michael Suydam 011-40 1 403-0000

D. Vanessa Weaver, member of the Board of Directors of the Export-Import Bank of the United States (Ex-Im Bank), will visit Romania Friday, March 1, 2002, to promote U.S. exports to Romanian businesses and government officials.

During her stay, Weaver will discuss the broad impact that trade plays in the global marketplace, as well as the benefits that can accrue in the Romanian economy through trade with U.S. businesses.

Doing business globally is critical to the bottom line, Weaver explained. Romania is an important trading partner to the U.S. and we hope to find ways to finance more U.S. exports to Romania so both countries can continue to reap the benefits of the 21st century global economy.

Ex-Im Bank, which opened in Romania in 1973, financed almost $144 million in exports to the southeast European nation last year. Current exposure is $424 million, after opening for private-sector transactions last year.

On March 1, Weaver will visit Romania's National Radio-Communications Company (SNR) to discuss potential support for SNR's purchase of radio and TV communications equipment.

Later in the day, Weaver will visit with Romanian Ministry of Public Works, Transportation and Housing Director General Vasile Olievschi and with U.S. Ambassador to Romania Michael Guest.

Ex-Im Bank (www.exim.gov) 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. In fiscal year 2001, Ex-Im Bank supported $12.5 billion for U.S. exports worldwide.