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EX-IM BANK JOINS BOSNIAN LEADER IN PLEDGING SUPPORT FOR EXPANDED U.S. EXPORTS TO BOSNIA-HERZEGOVINA

FOR IMMEDIATE RELEASE December 19, 2002

Media Contact Name/Phone: 

Andrew Yarrow (202) 565-3200

His Excellency Dragan Mikerevic, Chairman of Bosnia-Herzegovina's Council of Ministers and Prime Minister of Bosnian and Herzegovina met with Dan Renberg, a board member of the Export-Import Bank of the United States (Ex-Im Bank), this week to pledge support for upcoming efforts to increase U.S. exports to Bosnia.

Mikerevic said that he wants to spread the word about Ex-Im Bank's financing products to buyers in his country and lay the groundwork for a business development mission to Bosnia in January. Renberg and Mikerevic discussed possible lending in the agricultural production, power generation, aviation, and telecommunications sectors. Ex-Im Bank began offering financing for short- and medium-term private sector transactions in Bosnia in September.

I was very pleased to host Minister Mikerevic on behalf of the Ex-Im Bank board of directors and to discuss a strategy for increasing U.S. exports of capital goods, services, and technologies to Bosnian companies, which will, in turn, allow their nation to achieve critical economic growth, Renberg said. Ex-Im Bank is prepared to work side by side with the government of Bosnia-Herzegovina to develop a plan for educating Bosnian companies as to the availability of our financing in support of sales by U.S. exporters.

The meeting between Prime Minister Mikerevic and Ex-Im Bank was just the beginning and we are expecting to intensify this cooperation and achieve partnership, Bosnia-Herzegovina Ambassador Igor Davidovic said.

Ex-Im Bank is an independent U.S. government agency that helps finance the sale of U.S. exports, primarily to growth markets throughout the world, by providing guarantees, insurance, and loans. In fiscal year 2002, Ex-Im Bank supported nearly $13 billion of U.S. exports worldwide.