EXIM Signs Two Memoranda of Understanding with Mastercard and Nigeria’s Bank of Industry at Inaugural Global Business Development Summit
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis today signed two new Memoranda of Understanding (MOU) during EXM’s inaugural Global Business Development Summit in Washington D.C. The summit, which takes place on the sidelines of the World Bank/International Monetary Fund (IMF) spring meetings, aims to foster connections, explore solutions and enhance access to finance for businesses worldwide.
The first MOU Chair Lewis signed was with Nigeria’s Bank of Industry, alongside Bank of Industry CEO Dr. Olasupo Olusi, to encourage collaboration and identify projects that enhance economic prosperity between Nigeria and the United States. The MOU will focus on mutual collaboration to discover new projects in Nigeria that involve the procurement of U.S. goods and services in several sectors, including climate and sustainability, creative arts and entertainment, infrastructure, technology, and opportunities for small businesses and women-owned businesses.
“This MOU is a symbol of EXIM’s commitment to deepening relationships with partners in Nigeria to strengthen the U.S.- Nigeria commercial relationship and bolster the economies of and support jobs in both of our nations,” said Chair Lewis. “Supporting U.S. exports to sub-Saharan Africa is one of our agency’s central mandates, and we are excited to see the new opportunities that may result from this MOU.”
The second MOU Chair Lewis signed today was with Mastercard, alongside Shamina Singh, Founder & President, Center for Inclusive Growth and EVP, Sustainability at Mastercard, to encourage collaboration opportunities in support of small businesses. The MOU will focus on identifying opportunities for EXIM and Mastercard to collaborate in several areas, including financial support and education programs for small business owners; promotion of EXIM programs; collaborative initiatives and joint engagements; customized solutions for small businesses; and networking and partnerships facilitated by both parties.
“EXIM is committed to forging new partnerships to meet our mandate and support U.S. small business exporters,” said EXIM Chair Lewis. “We are proud to sign this MOU with Mastercard and are eager to see what new collaboration opportunities to help U.S. small businesses grow and expand through exporting may result from this historic partnership.”
“At Mastercard, we want to elevate small businesses, as they are the engine of our nation’s economy,” said Shamina Singh, Founder & President, Center for Inclusive Growth and EVP, Sustainability at Mastercard. “This partnership with EXIM will allow us to support education and solutions, and further unlock financing solutions in the U.S., leading to more job creation and greater prosperity for small businesses and their communities.”
“Today’s signing ceremony marks the inception of a strong strategic partnership that would see EXIM Bank and BOI further the objective of facilitating the procurement of U.S. goods and services for projects in Nigeria by providing medium to long-term guarantees and/or direct loans to finance U.S. exports across various sectors,” said Dr. Olasupo Olusi MD/CEO Bank of Industry. “We look forward to exploring more collaborative opportunities to catalyze sustainable industrial and entrepreneurial growth in Nigeria.”
ABOUT EXIM:
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. Learn more at www.exim.gov.
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