Discusses COVID-19 Economic Recovery Measures, EXIM’s Program on China and Transformational Exports, Need for Greater Transparency in Official Export Credit Practices
FOR IMMEDIATE RELEASE December 17, 2020
Office of Communications (202) 565-3207
WASHINGTON — Over the past two days, Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed participated in the 2020 G7 Heads of Export Credit Agencies (ECAs) meeting. In addition to the United States, participating countries included Canada, France, Germany, Italy, Japan, and the United Kingdom. The 2020 meeting was hosted virtually by UK Export Finance.
During her remarks to her G7 ECA counterparts, EXIM Chairman Reed touched on the agency’s COVID-19 response measures in support of American exporters and workers; the EXIM Program on China and Transformational Exports; and the need for ECAs globally to work together toward greater transparency for all export-related programs.
G7 Heads of Export Credit Agencies participating in the meeting included the following:
- Canada – Ms. Mairead Lavery, President and CEO, Export Development Canada (EDC)
- France – Mr. Gabriel Cumenge, Deputy Assistant Secretary, Export Finance, Ministère de L'économie et Des Finances et de La Relance (Ministry of Economy and Finance and Recovery)(DG Tresor)
- Germany – Dr. Christoph Herfarth, Head of Export Financing and Export Credit Guarantees, Federal Ministry for Economic Affairs and Energy and Chairman of the Interministerial Committee for Export Credit Guarantees
- Italy – Mr. Pierfrancesco Latini, Chief Executive Officer/Ms. Michal Ron, Chief International Officer, Servizi Assicurativi del Commercio Estero (SACE S.p.A)
- Japan – Mr. Atsuo Kuroda, Chairman and CEO, Nippon Export and Investment Insurance (NEXI)
- United Kingdom – Mr. Louis Taylor, Chief Executive and Accounting Officer, United Kingdom Export Finance (UKEF)
- United States – Ms. Kimberly Reed, President and Chairman of the Board, Export-Import Bank of the United States (EXIM)
Also participating were James C. Cruse, EXIM Senior Vice President for Policy Analysis and International Relations and Isabel Galdiz, EXIM Vice President for International Relations.
At the conclusion of the meeting, the G7 agreed to the following joint statement emphasizing their commitment to supporting clean energy and increased transparency:
“ECA Heads from Canada, France, Germany, Italy, Japan, UK and USA discussed a range of strategic topics, including climate change and clean energy.
“The G7 ECA Heads also agreed that a global level playing field in the provision of officially supported export credits was critical, and re-affirmed their full commitment to transparency. The constructive and open discussions then explored the impact of the coronavirus (COVID-19) pandemic, and the vital roles ECAs were playing in stimulating the economic recovery.
“G7 ECA Heads agreed to reconvene in 2021.”
Earlier this year, EXIM Chairman Reed hosted the 2020 G12 Heads of Export Credit Agencies (ECAs) meeting virtually from the agency’s Washington, D.C. headquarters. In conjunction with the meeting, the 12 Heads of ECAs issued the first-ever G12 joint statement.
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.