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Readout from EXIM Chairman Kimberly Reed’s Bilateral Meeting with German Chairman of the Interministerial Committee on Export Credit Guarantees

FOR IMMEDIATE RELEASE June 7, 2019

Media Contact Name/Phone: 

Office of Communications (202-565-3204)

The below is attributable to Senior Vice President of Communications Jennifer Hazelton:

Washington, D.C. – Today Kimberly A. Reed, president and chairman of the Export Import Bank of the United States (EXIM), met with Christoph Herfarth, German chairman of the Interministerial Committee on Export Credit Guarantees from the Ministry of Economic Affairs and Energy. Chairman Reed and Chairman Herfarth acknowledged a shared philosophy of export credit agencies as lenders of last resort. They discussed how to balance that philosophy against the need to re-establish a level playing field for export credits to help avoid a “race to the bottom” on export credits vis-à-vis export credit agencies that are increasingly working outside of the terms of the Arrangement of the Organisation for Economic Cooperation and Development (OECD), to which both nations belong.  The two officials agreed that their nations must collaborate to make progress towards those goals.

EXIM Chairman Reed with German Chairman Christoph Herfarth

Left, Kimberly A. Reed, president and chairman of the Export Import Bank of the United States. Right, Christoph Herfarth, German chairman of the Interministerial Committee on Export Credit Guarantees from the Ministry of Economic Affairs and Energy.