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Ex-Im Bank Recognized as World's "Best Export Credit Agency" by Trade and Forfaiting Review Magazine


Media Contact Name/Phone: 

Phil Cogan or Caroline Gagne, (202) 565-3200

London, United Kingdom - The Export-Import Bank of the United States (Ex-Im Bank) has received the world's Best Export Credit Agency award by Trade and Forfaiting Review (TFR) as part of their 2013 Excellence Awards, the publication has announced.

Ex-Im Bank Chairman and President Fred P. Hochberg said, We are very honored to receive this award. Being named the world's 'Best Export Credit Agency (ECA)' recognizes the hard work and innovation that the Ex-Im Bank staff has put in to create and support American jobs and increase the global competitiveness of U.S. exporters. Hochberg added: This is the second award we've received in the past several weeks naming us the best ECA in the world, a clear acknowledgement of the success of Ex-Im's focus on meeting the export financing needs of U.S. exporters, foreign buyers, and lenders.

Clarissa Dann, editor of Trade and Forfaiting Review, a global magazine dedicated to trade and commodity finance information provision, said: TFR's awards have been one of the high spots of the trade finance calendar and the sheer scale of the US-Exim Bank's support for exports to over 150 countries, along with the innovation displayed in the actual deals ­- plus its ability to work with its private sector partners has clearly inspired a new tranche of voters. On behalf of all here at TFR, well done and keep up the good work!

The TFR 2013 Excellence Awards will appear in the July/August edition of Trade and Forfaiting Review with the full winner profiles forming a special focus.

Additionally, in late June Trade Finance Magazine gave Ex-Im Bank a number of awards including Best Global Export Credit Agency (ECA) for the second time and the Best ECA in the Americas for the fourth consecutive time.

Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved $35.8 billion in total authorizations in FY 2012 - an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales - also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country. For more information, visit www.exim.gov.