Export-Import Bank of the U.S. Chair Lewis Announces Historic Financing for Ukrainian Railways During Visit to Ukraine
WASHINGTON – The Export-Import Bank of the United States (EXIM) President and Chair of the Board of Directors Reta Jo Lewis today announced that the EXIM Board of Directors of the United States (EXIM) last week approved a historic $156.6 million loan to Ukrainian Railways to support the potential acquisition of 40 Wabtec diesel locomotives during a press conference in Kyiv, Ukraine. The transaction was passed by EXIM’s Board of Directors on April 4 and is estimated to support 800 jobs at Wabtec in the Western Pennsylvania region, and indirectly supports the rail-related supply chain.
Chair Lewis is one of three U.S. government officials who traveled to Ukraine to participate in a series of meetings regarding Ukraine’s restoration efforts. The other officials were U.S. Special Representative for Ukraine’s Economic Recovery, former U.S. Commerce Secretary Penny Pritzker and Deputy National Security Advisor for International Economics, Daleep Singh.
“EXIM is deeply committed to advancing Biden-Harris Administration priorities and affirming our relationship with Ukraine, a signal that Ukraine is a worthy investment,” said EXIM President and Chair Reta Jo Lewis. “We are proud to approve this transaction that will allow the procurement of trains to support Ukraine as they continue to fight against Russia’s war.”
“The deal we are announcing today is good for Ukraine and good for the United States. It will create jobs in both countries and it opens the door for expanded private sector investment and support for Ukraine,” said Ambassador Bridget Brink. “The private sector will be critical for Ukraine’s recovery from this awful war and this deal takes us one step closer to recovery.”
"This deal, which has been long in the making, is an excellent example of what we can do when we come together, governments and the private sector, to address critical problems,” said U.S. Special Representative for Ukraine’s Economic Recovery Penny Pritzker. “This locomotive deal has brought together one of our finest American transportation companies, Wabtec, along with the resources of the Export-Import Bank of the United States and the government of Ukraine, demonstrating how working together we can tackle challenging problems creatively."
After touring the KEBP3 Rail Repair Depot in Kyiv, Chair Lewis joined Special Representative Pritzker, Ambassador Brink, Ukraine’s Deputy Prime Minister of Reconstruction Oleksandr Kubrakov, and Chairman of the Board of the Joint Stock Company Ukrzaliznytsia Yevhen Lyaschenko to announce the historic transaction. The transaction represents the collective effort of U.S. government partners to support Ukraine’s economic recovery. The transaction was also completed due to the support of Ukraine’s Prime Minister Denys Anatoliiovych Shmyhal, Ukraine’s Ambassador to the U.S. Oksana Markarova, and the Ukrainian Ministry of Finance.
EXIM examines all transactions on a case-by-case basis.
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.