FOR IMMEDIATE RELEASE November 1, 1999
Marianna Ohe (202) 565-3200
The Export-Import Bank of the United States (Ex-Im Bank) is exploring ways to finance more exports of cutting-edge US environmental technologies to meet the needs of Central and Eastern European countries at the US Environmental and Process Technologies Conference Nov. 2-4, in Budapest, Hungary, sponsored by the US Trade and Development Agency (TDA).
Ex-Im Bank Director of Sales Craig S. O'Connor will explain Ex-Im Bank programs to government, financial and business leaders from the United States and six Central and Eastern European countries -- the Czech Republic, Hungary, Poland, Estonia, Slovenia and Cyprus. O'Connor also will explore ways to partner with businesses and financial institutions to expand financing for environmental projects in the region.
As these countries implement regulatory reforms to gain accession to the European Union, financing is a critical factor in their ability to buy US technology and equipment to implement projects in areas such as waste water treatment, contaminated property restoration and energy efficiency, O'Connor said. We want them to know about Ex-Im Bank's enhanced credit terms for environmentally beneficial projects, including special programs for small and mid-size businesses.
- Aqua Smart, Inc. is using short-term insurance to offer open account credit terms of 30 days to Gornoslaskie Przedsiebiorstor Wodociagow of Katowice, Poland, for the sale of water treatment technology.
- Ionics, Inc. used short-term insurance to finance a $40 million waster water treatment project at a uranium mine near Prague.
- An Ex-Im Bank $30 million loan guarantee financed the sale of circulating fluidized bed boilers by Pyropower Ahlstrom to Elektrownia Turow in Bogatynia, Poland.
O'Connor said recent Ex-Im Bank-supported environmental exports include:
Ex-Im Bank is an independent U.S. government agency that assists in financing the export of US goods and services to developing markets around the world. Worldwide in fiscal year 1999, Ex-Im Bank supported nearly $17 billion of US exports.