FOR IMMEDIATE RELEASE June 7, 2012
J. Lawton King (202-565-3200)
WASHINGTON, D.C. - The Export-Import Bank of the United States (Ex-Im Bank) has received the Best Export Credit Agency (ECA) in the Americas Award from Trade Finance Magazine for the third year in a row.
Being voted Best ECA in the Americas again this year demonstrates the respect that the trade finance industry has for Ex-Im Bank, its innovative products, and its ability to give U.S. exporters the edge they need in highly competitive overseas markets. Also reflected here is the vocal support that the market provided Ex-Im Bank during its challenging reauthorization process, said Oliver O'Connell, the editor of Trade Finance.
The Bank also placed second in the Best Global ECA category and second in the Best ECA in Africa category.
The award really goes to the employees of Ex-Im for their work on behalf of our customers' exports and the U.S. jobs they create, said Ex-Im Bank Chairman Fred P. Hochberg. We will continue to aim for excellence and look forward to competing for next year's awards.
Additionally, the Bank was recognized by Trade Finance for its involvement in five deals of the year, including the export of oil and refinery equipment and services from more than 150 firms to Colombia's Refinería de Cartagena S.A. (Reficar); oil and refinery equipment and services to Petroleo Brasileiro S.A. (Petrobras), Brazil's national oil company; oil and refinery equipment and services to Pemex, a Mexican state-owned petroleum company; telecommunications satellites to Avanti Communications of London; and aero-derivative gas turbine generators manufactured by GE Packaged Power Inc (GEPPI) to Aydin, Turkey.
Trade Finance Awards for Excellence have been annually awarded for the last 15 years and represent a comprehensive poll of the global trade finance market.
According to its website, Trade Finance will officially confer the award at the Trade Finance Magazine Americas Awards dinner at the Roosevelt Hotel in New York City June 26, and the write-up of the award will appear in the July/August edition of the magazine.
About Ex-Im Bank: Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 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 $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.