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EX-IM BANK INCREASES SUPPORT FOR 'GREEN' EXPORTS IN FY 2002

Ex-Im Bank To Host Environmental Exports Financing Events in Budapest, Hungary, Sept. 9-10; Mexico City, Mexico, Sept. 23-24

FOR IMMEDIATE RELEASE September 5, 2002

Media Contact Name/Phone: 

Linda Formella (202) 565-3200

In fiscal year 2002 to date, the Export-Import Bank of the United States (Ex-Im Bank) is supporting more than $300 million of U.S. exports of environmentally beneficial goods and services related to renewable energy, and air, water and land remediation. Ex-Im Bank assists U.S. environmental exports through all of its financing products, and these exports can qualify for longer repayment terms, capitalization of interest and local cost coverage up to 15% of the U.S contract.

This year we have substantially increased financing for 'green' U.S. exports to improve air, water and land quality in developing countries, said Ex-Im Bank Board Member Dan Renberg. We are seeing larger-sized transactions from small companies. We set up an advisory committee of outside experts from renewable energy industries to help us boost these exports, and we are also presenting major conferences in emerging markets where U.S. environmental technologies are very competitive and can have a significant impact.

On Sept. 9-10, 2002, Ex-Im Bank will host the Southeast Europe Environmental Finance Seminar in Budapest, Hungary. The seminar will help representatives of environmental ministries, municipalities and companies from Southeast Europe learn about financing options to partner with U.S. companies on environmental projects, particularly in the renewable energy sector.

On Sept. 23-24, 2002, Ex-Im Bank and Mexico's Banco Nacional de Obras y Servicios Publicos, S.N.C., (Banobras) will host an environmental conference, Financing Mexico's Environmental Infrastructure, in Mexico City, Mexico. U.S. exporters will meet with representatives of Mexican municipalities to discuss projects in renewable energy, water and solid waste treatment.

Environmentally beneficial transactions in fiscal year 2002 include:

VENEZUELA: Sir William Halcrow Partners Inc. in Roslyn, N.Y., is using an Ex-Im Bank medium-term guarantee to support the $9.5 million sale of wastewater treatment equipment to the Venezuelan Ministry of Environment and Natural Resources.

NIGERIA: Solar Outdoor Lighting Inc., a small business manufacturer and distributor in Palm City, Fla., will use an Ex-Im Bank medium-term guarantee to support the $2.6 million sale of billboards and solar-powered outdoor lighting systems to Afromedia Nigeria Ltd. in Lagos, Nigeria.

TURKEY, INDIA, SOUTH AFRICA: Southwest Windpower in Flagstaff, Ariz., Ex-Im Bank's 2002 Small Business Exporter of the Year, has been using Ex-Im Bank's environmental insurance policies for the past six years to sell its battery-charging wind generators in many developing markets, including Turkey, India, South Africa and St. Lucia. More than 50 percent of the company's revenues come from export sales.

MEXICO, KENYA: Astropower Inc., in Newark, Del., is using Ex-Im Bank's short-term environmental insurance policies to export its solar cells and modules to buyers in Mexico and Kenya.

PERU: The Seacrest Group in Louisville, Colo., is using Ex-Im Bank's short-term environmental insurance policy to export its environmental assessment and engineering services to buyers in Peru.

EUROPE, ASIA: Kimre Inc., in Miami, Fla., has been using Ex-Im Bank's short-term environmental insurance policies for the past four years to export more than $5 million of its environmental control filters to buyers in Western Europe and Asia, including Germany, Japan and South Korea.

BRAZIL, MEXICO: Applied Membranes Inc. of Vista, Calif., is using Ex-Im Bank's working capital guarantee to support $3 million of its exports of water filtration components to buyers in Brazil and Mexico.

Ex-Im Bank is an independent federal government agency that assists in financing U.S. exports, primarily to developing markets, by providing loans, loan guarantees and export credit insurance. Since 1994, Ex-Im Bank has approved more than $2 billion in financing to support U.S. exports of environmentally beneficial goods and services.