EXIM Board Authorizes Nearly $194 Million Loan Guarantee Supporting Aircraft Exports to Panama's Copa Airlines
WASHINGTON - The Export-Import Bank of the United States (EXIM) Board of Directors today unanimously approved a final commitment to guarantee an approximately $194 million loan from Citibank and JPMorgan to Copa Airlines of Panama to finance the purchase of Boeing 737 MAX 9 aircraft.
With the input of many small and medium-sized business suppliers across the United States, the aircraft are assembled and exported from The Boeing Company's facility in Renton, Washington. The aircraft are powered by engines manufactured by CFM International in Cincinnati, Ohio. In total, the transaction is estimated to support 1,100 American jobs.
"By approving this transaction, EXIM is proud to support the more than one thousand American workers - many of them at small businesses - who contribute to the extensive aircraft supply chain across the country," said Acting EXIM President and Chairman James Burrows. "We remain committed to helping US companies large and small compete around the world by filling gaps in private-sector financing."
The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.