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FOR IMMEDIATE RELEASE September 27, 2001

Media Contact Name/Phone: 

Marianna Ohe (202) 565-3200

The Export-Import Bank of the United States (Ex-Im Bank) today authorized $575 million in financing to support the export of more than $700 million worth of large commercial aircraft by The Boeing Co., Seattle, WA, principally to Africa and Asia.

Despite the events of September 11, 2001 which have affected airlines and aircraft manufacturers around the world, Ex-Im Bank is continuing to conduct its business to enable creditworthy U.S. export transactions to go forward, said Ex-Im Bank Chairman John E. Robson. These transactions are prudent and also reflect our strong commitment to supporting U.S. exports and U.S. jobs at this crucial time. Commercial aircraft exports contribute substantially to the overall health of the U.S. economy by supporting thousands of U.S. jobs around the country, as well as contributing to the development of a more modern, more efficient global air transport system.

Ex-Im Bank's Board of Directors approved long-term guarantees supporting the export by Boeing of 14 Boeing 737 Next Generation aircraft and one Boeing 767-300ER (extended range) aircraft to Air Algerie in Algeria, Hainan Airlines in China and Lauda Air in Austria.

Ex-Im Bank currently supports 550 U.S.-manufactured aircraft exported to 50 foreign countries.

Ex-Im Bank is an independent U.S. government agency that helps finance the sale of U.S. exports primarily to emerging markets throughout the world, by providing loans, guarantees, and insurance. Ex-Im Bank supported $15.5 billion in U.S. exports in fiscal year 2000.