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EXPORT-IMPORT BANK DIRECTOR VANESSA WEAVER MEETING WITH DOMINICAN REPUBLIC OFFICIALS AND BUSINESS LEADERS TO PROMOTE TRADE

FOR IMMEDIATE RELEASE September 11, 2001

Media Contact Name/Phone: 

Ken Murphy (202) 565-3200 (USA)

Export-Import Bank of the United States (Ex-Im Bank) Director Vanessa Weaver will meet with high-level government officials in the Dominican Republic and business leaders during a three-day business development visit September 12-14, 2001 in an effort to promote trade between U.S. and Dominican Republic businesses.

The Dominican Republic is Ex-Im Bank's second largest market in the Caribbean and has been a trade partner with Ex-Im Bank since 1940.

Ex-Im Bank is interested in working with government and businesses in the Dominican Republic to address increased demand for our financial services, Ex-Im Bank Director Weaver said.

In July Ex-Im Bank approved $552,000 medium-term guarantee to support sales of radio broadcasting equipment to the Dominican Republic.

Ex-Im Bank began financing exports to DR 61 years ago with a $3 million sale of U.S.-made agriculture and manufacturing equipment exported in December 1940, just six years after Ex-Im Bank was created. This marked the 266th transaction ever financed by Ex-Im Bank.

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 2000, Ex-Im Bank helped financenearly $15.5 billion of U.S. exports worldwide.