Export-Import Bank of the U.S. Director Herrnstadt Attends Three Seas Initiative Business Forum in Lithuania
Vilnius, Lithuania – Export-Import Bank of the United States (EXIM) Director Owen Herrnstadt traveled to Vilnius, Lithuania last week to attend the Summit of the Three Seas Initiative (3SI) and the 3SI Business Forum to participate in discussions alongside government leaders, Three Seas Initiative representatives, and private sector companies to highlight EXIM’s ongoing work to support U.S. exporters and U.S. workers involved with projects in the region.
“It was a privilege to participate in these important discussions about the need for infrastructure and renewable energy projects in the Three Seas region and underscore the role EXIM financing can play in bringing these important projects into reality,” said Director Owen Herrnstadt. “EXIM is committed to supporting transactions that support U.S. exporters and U.S. workers and help spur economic development in the Three Seas region.”
While in Vilnius, Director Herrnstadt participated on a panel on promoting cohesive economic development in the Three Seas region alongside Prime Minister of Lithuania Ingrida Simonyte and others where he discussed how EXIM’s financing tools can assist countries in the region with infrastructure and renewable energy projects that involve U.S. exporters and U.S. workers. Director Herrnstadt also participated on a panel at the Atlantic Council’s Global Energy Center and Europe Center on strengthening the Three Seas region through critical infrastructure and clean energy deployment.
During both panels, Director Herrnstadt highlighted that EXIM’s Board of Directors recently approved a transaction to support the potential acquisition of 40 Wabtec diesel locomotives to Ukraine, which is estimated to support 800 U.S. jobs at Wabtec in Western Pennsylvania. The transaction is also the first fully financed project by the U.S. government towards Ukraine’s economic recovery.
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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