FOR IMMEDIATE RELEASE September 20, 2001
Niki Shepperd (202) 565-3200
In an effort to expand trade between the U.S. and Polish businesses, Export-Import Bank of the United States (Ex-Im Bank) Senior Business Development Officer Frank Graebner and Business Development Officer Robert Bosco met with representatives from the Polish cities of Krakow, Bydgoszcz, Wroclaw and Szczecin to introduce the municipalities to Ex-Im Bank's sub-sovereign program during a recent business development visit to Poland September 17-19, 2001.
Ex-Im Bank's sub-sovereign program makes doing business with U.S. companies easier for qualifying sub-sovereign entities and helps foreign borrowers that are supported by municipal, state and provincial governments to gain access to Ex-Im Bank financing. The financing can be used to buy, among other things, medical equipment, construction vehicles, information technology, and environmentally beneficial goods and services.
Poland is Ex-Im Bank's largest market in Central Europe and has been a trade partner with Ex-Im Bank since 1973. In the last five years, Ex-Im Bank has supported nearly $200 million in U.S.-exports such as aircraft and electrical power generation equipment to Poland. These transactions helping Polish businesses obtain U.S. goods and services they need to produce products for their domestic and other Central European markets. Ex-Im Bank's current exposure in Poland is $499 million.
Ex-Im Bank is an independent U.S. government agency that assists in financing the export of U.S. goods and services to markets around the world, through export credit insurance, loan guarantees, and direct loans. In fiscal year 2000, Ex-Im Bank helped finance nearly $15.5 billion of U.S. exports worldwide.