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EX-IM BANK, UZBEKISTAN SIGN AGREEMENT TO COOPERATE IN FINANCING UZBEKISTAN'S PURCHASE OF U.S. PRODUCTS

FOR IMMEDIATE RELEASE November 29, 2001

Media Contact Name/Phone: 

Cheryl Crispen 202-565-3200

WASHINGTON, D.C.: The Export-Import Bank of the United States (Ex-Im Bank) and the Government of the Republic of Uzbekistan today signed a Memorandum of Understanding (MOU) to cooperate in developing and implementing a $50 million facility to support purchases of U.S. goods and services by small and medium-sized enterprises (SMEs) in Uzbekistan.

The agreement was signed by Rustam Azimov, Deputy Prime Minister of Uzbekistan, and Dan Renberg, member of the Board of Directors of Ex-Im Bank, at a ceremony at the Embassy of Uzbekistan. Azimov is heading a delegation of the Government of the Republic of Uzbekistan visiting Washington, D.C. to meet with various U.S. government agencies to explore ways to promote cooperation between the two countries.

We are delighted to widen our relationship with Uzbekistan at this time, Renberg said. Ex-Im Bank has helped to finance many large U.S. export transactions with Uzbekistan buyers. This agreement will allow us to cooperate to support transactions between small businesses in both our countries, leading to job creation and economic growth for both our peoples.

Under the MOU, the parties stated their intention to work toward extending a $50 million facility to the National Bank of the Republic of Uzbekistan (NBU) to support purchases of U.S. goods and services by Uzbekistan SMEs. The facility will support non-sovereign financing.

In fiscal year 2001, Ex-Im Bank authorized $138 million in financing to support U.S. exports to Uzbekistan.

Ex-Im Bank is an independent federal agency that assists in financing the export of U.S. goods and services to developing markets around the world, through export credit insurance, loan guarantees, and direct loans. In fiscal year 2001, Ex-Im Bank supported $12.5 billion of U.S. exports worldwide.