FOR IMMEDIATE RELEASE July 30, 2006
Linda Formella (202) 565-3200
|SEMINAR FOR AFRICAN BANKS --- Almost 50 individuals representing 22 financial institutions from the African continent participated in the Bank's seminar for African lenders held at the Washington, D.C. headquarters. Shown answering questions is Kyle Jackson, who was one of many Bank presenters during the three-day seminar.|
WASHINGTON, D.C.: The Export-Import Bank of the United States (Ex-Im Bank) is hosting a three-day seminar for African lenders at Ex-Im Bank headquarters in Washington, D.C., on August 1-3, 2006.Ex-Im Bank Chairman and President James H. Lambright will welcome 45 representatives of African and U.S. banks, and Ex-Im Bank's Africa team of trade finance professionals will conduct all-day training sessions on the Bank's financing products and underwriting and review processes. The seminar is open to the media.
African Lenders Seminar
Ex-Im Bank Headquarters
811 Vermont Ave., N.W.
August 1-3, 2006
9:00 a.m. - 5:00 p.m.
In accord with a congressional mandate, Ex-Im Bank has a special incentive program to provide export financing for U.S. exports to sub-Saharan Africa. The Bank is committed to building U.S.-African trade by working with African lenders, particularly in markets such as Nigeria where the banking sector has undergone major reform and consolidation. Representatives of numerous Nigerian banks, as well as banks in Cameroon, Gambia, Ghana, Kenya, South Africa, Tanzania and Uganda are expected to participate in the seminar, along with representatives from U.S. banks with African portfolios.
An example of Ex-Im Bank working with African lenders is the $300 million in Ex-Im Bank financing approved in June that will be allocated through 14 Nigerian banks to support U.S. exports to Nigeria. The consolidated facility will expedite the processing of short-term and medium-term Ex-Im Bank financing for Nigerian purchases of U.S. goods and services.
In fiscal year 2005, Ex-Im Bank approved financing to support 115 transactions, with a total export value of $460 million, to 20 sub-Saharan African countries.
Ex-Im Bank, the official export credit agency of the United States, is in its 72nd 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 2005, Ex-Im Bank authorized $14 billion in transactions supporting almost $17.9 billion of U.S. exports to markets worldwide. For more information, visit www.exim.gov.