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EX-IM BANK DIRECTOR DAN RENBERG VISITS COSTA RICA TO PROMOTE U.S. EXPORTS

FOR IMMEDIATE RELEASE March 20, 2002

Media Contact Name/Phone: 

Bo Ollison (202) 565-3200

Dan Renberg, member of the Board of Directors of the Export-Import Bank of the United States (Ex-Im Bank), concluded a business development mission to Costa Rica Wednesday. Director Renberg stated that he foresees increased Ex-Im Bank activity in the country by the end of the year.

During the visit, Director Renberg met with U.S. Ambassador to Costa Rica John Danilovich, Costa Rican Minister of Finance Alberto Dent as well as representatives of the Minister of Economy, Industry and Commerce (MEIC) and Foreign Trade (COMEX).

The purpose of our trip to Costa Rica was to try to increase Costa Rican awareness of Ex-Im Bank and its programs, said Director Renberg. My hope is that we can work to double Ex-Im Bank's activity in this country by the end of the year, helping to significantly increase overall U.S. exports to Costa Rica in 2003.

Ex-Im Bank supports roughly $7.5 million in U.S. exports to Costa Rica annually, with an overall exposure of $21.6 million. 53% of Costa Rica's imported good and services -- $3.4 billion total -- are from the United States.

The interest that Ex-Im Bank has shown in this country is very important, said Costa Rican Minister of Finance Alberto Dent during a joint press conference. Their presence here and the conversations we've had will help educate Costa Rican companies wishing to buy goods and services from the U.S. about what Ex-Im Bank has to offer.

In addition to government officials, Renberg met with Costa Rican banks such as Banco Banex, Banco Interfin and Banco Elca, along with Citibank officials in Costa Rica. Director Renberg also addressed the Chamber of Industries, the American Chamber of Commerce, Union Costarricense de Camaras y Asociaciones de la Empresa Privada (UCCAEP), as well as Costa Rican companies that use Ex-Im Bank products such as Pipasa.

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 of U.S. exports worldwide.