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EX-IM BANK DIRECTOR J. JOSEPH GRANDMAISON TO LEAD BANK'S OUTREACH EFFORTS TO INCREASE U.S. EXPORTS TO SUB-SAHARAN AFRICA

FOR IMMEDIATE RELEASE February 11, 2002

Media Contact Name/Phone: 

Niki Shepperd (202) 565-3200

J. Joseph Grandmaison, a member of the board of directors at the Export-Import Bank of the United States (Ex-Im Bank), has been named to lead Ex-Im Bank's outreach efforts to expand support of U.S. exports to Africa, Ex-Im Bank Vice Chairman Eduardo Aguirre announced today.

Director Grandmaison will work closely with Jim Lambright, special assistant to Ex-Im Bank Chairman John E. Robson and coordinator of the Bank's efforts to increase support for U.S. exports to sub-Saharan Africa.

Increasing trade to sub-Saharan Africa continues to be a top Ex-Im Bank priority, said Grandmaison. I look forward to heading this Ex-Im Bank initiative to help U.S. businesses expand their exports to this important market.

As part of Director Grandmaison's mission to increase Ex-Im Bank activity in sub-saharan Africa, he will travel to Addis Abbaba, Ethiopia; Nairobi, Kenya; and Lagos, Nigeria, February 24 - March 6, 2002 to increase Ex-Im Bank's visibility in the region and participate in Ex-Im Bank regional training seminars. The training seminars are designed to introduce Ex-Im Bank financing programs to African buyers of U.S. goods and services. Grandmaison will be accompanied by John Richter, Ex-Im Bank's Regional Director, Africa

Currently, Ex-Im Bank is open to consider financing for transactions in 47 sub-Saharan markets.

Ex-Im Bank 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.