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The Export-Import Bank of the United States and the Republic of Indonesia Agree to Sign a $750 Million Memorandum of Understanding

Commitment Enhances Bi-Lateral Relationship and Economic Cooperation Between the United States and Indonesia; Promotes Jobs in Both Countries and U.S. Exports in Diverse Sectors

FOR IMMEDIATE RELEASE October 25, 2020

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JAKARTA – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed met with the Republic of Indonesia Coordinating Minister for Maritime and Investment Affairs Luhut B. Pandjaitan today in Jakarta where the two indicated their mutual support for a Memorandum of Understanding (MOU) between EXIM and the Republic of Indonesia in order to promote investment in Indonesia and enhance the strong alliance and trading relationship between the two countries.

Under the agreement, EXIM and Indonesia agree to explore and identify potential opportunities for EXIM financing in a total aggregate amount of up to $750 million. The official signing of the MOU will take place in the near future.

“I had a very productive discussion with Minister Pandjaitan and am very excited to announce this $750 million MOU with him today. The Export-Import Bank of the United States is committed to enhancing the economic cooperation between our two countries, and the MOU will affirm our commitment to diverse potential projects in Indonesia—ranging from infrastructure to energy to wireless communications technology (4G+/5G) to healthcare to broadcasting—that could be supported with U.S. goods and services,” said Chairman Reed. “We intend to work together to promote investment and business development opportunities, leading to potential benefits for U.S. and Indonesian workers and businesses.”

Coordinating Minister Pandjaitan noted “We welcome the proposed MOU and would like to see more investment and participation of U.S. businesses in our infrastructure, energy, transportation, and telecommunication projects."

The agreement took place as part of a U.S. delegation trip to Indonesia, Vietnam and Myanmar, led by U.S. International Development Finance Corporation CEO Adam Boehler and includes high-level U.S. government officials, including EXIM Chairman Reed and officials from the U.S. Departments of Treasury, Commerce, Energy, and State.

(L-R): Indonesia Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan, EXIM Chairman Kimberly Reed, DFC CEO Adam Boehler
(L-R): Indonesia Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan, EXIM Chairman Kimberly Reed, DFC CEO Adam Boehler

ABOUT EXIM:

EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.

For more information about EXIM, please visit www.exim.gov.