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Export-Import Bank Chairman Lambright to Promote Increased U.S. Export Financing at Africa Trade Event

Africa Trade & Investment 2007 Conference Slated for Cape Town

FOR IMMEDIATE RELEASE January 4, 2007

Media Contact Name/Phone: 

Phil Cogan, (202) 565-3200

WASHINGTON, D.C. --- Export-Import Bank of the United States (Ex-Im Bank) Chairman and President James H. Lambright will be among the international lenders participating in the Global Trade Review/Standard Chartered Bank Africa Trade & Investment 2007 conference February 1st and 2nd in Cape Town, South Africa.

Considered a premier trade and investment event, the conference will focus on the risks and rewards associated with being active on the continent and is regarded by many as the leading networking forum of the year. Additional information on the event can be found at http://www.gtreview.com.

My participation at the conference underscores the commitment of Ex-Im Bank when it comes to Africa, stated Lambright. Each and every year, he continued, we are more and more active and yet we are not satisfied. We believe African markets offer great potential for American exporters, and our financing support can help make more transactions a reality.

In Fiscal Year 2006 (October 2005 through September 2006), Ex-Im Bank authorized 140 transactions totaling approximately $532 million in 23 sub-Saharan African countries; that figure for the first time included working capital activity involving U.S. exporters. In the prior fiscal year, Ex-Im Bank authorized 115 transactions totaling $462 million in 20 countries, not including working capital activity. A comprehensive report prepared for the Congress of the United States describes the Bank's activities involving Sub-Saharan Africa. The report may be viewed and downloaded from the Bank's website at //www.exim.gov/about/whatwedo/markets/africa/.

Ex-Im Bank is an independent U.S. government agency that assists in financing the export of U.S. goods and services to markets around the world, through export credit insurance, loan guarantees, and direct loans. In fiscal year 2006 Ex-Im Bank authorized over $12.1 billion in transactions supporting an estimated $16.1 billion in U.S. exports worldwide. More information about Ex-Im Bank is available at www.exim.gov.