Agreement Expresses Intent to Facilitate Procurement of U.S. Goods and Services for the Lithuanian Market
FOR IMMEDIATE RELEASE November 24, 2021
Office of Communications (202-730-6639)
WASHINGTON – Export-Import Bank of the United States’ (EXIM) Acting First Vice President and Vice Chair James Cruse and Lithuania’s Vice Minister of Economy and Innovation Jovita Neliupšienė today signed a Memorandum of Understanding (MOU) between EXIM and the Government of Lithuania focused on enhancing economic cooperation between the two countries.
The signing took place at the Lithuanian Embassy in Washington, D.C., following discussions between EXIM, the U.S. Department of State and Lithuanian government officials regarding the opportunities for strengthening the economic relationship between these countries.
Under the MOU, EXIM and Lithuania’s Ministry of Economy and Innovation agreed to deepen engagement on opportunities for U.S. exporters and Lithuanian buyers in areas that include, but are not limited to, manufacturing, business services, renewable energy, transformational exports and small businesses.
“EXIM is pleased to enter into this understanding with Lithuania’s Ministry of Economy and Innovation,” said Acting First Vice President and Vice Chair James Cruse. “America is deeply committed to transatlantic partnerships and we believe in the mutual benefits of supporting Lithuania’s economic development through the purchase of American-made goods and services. We look forward to working with the Government of Lithuania in the months ahead.”
“Lithuania sees the United States as a strategic partner in developing trade and economic relations,” said Lithuania’s Vice Minister of Economy and Innovation Cooperation Jovita Neliupšienė. “With EXIM, we will create new tools to grow our bilateral trade and develop strong and reliable transatlantic supply chains.”
"This signing is a strong signal of our ironclad support for Lithuania and its values-based foreign policy,” said Jose W. Fernandez, U.S. Department of State’s Under Secretary for Economic Growth, Energy, and the Environment. “Our support does not end here. It will continue in the coming months as we work to achieve the goals contained in the memorandum of understanding and explore other ways of enhancing economic cooperation between our two countries in response to common challenges."
EXIM-supported financing is subject to the agency’s due diligence and approval process for each individual transaction, and any transaction must comply with EXIM’s requirements, policies, and procedures as well as the requirements set forth in the Arrangement on Officially Supported Export Credit of the Organisation for Economic Cooperation and Development (OECD).
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.