Export-Import Bank of the United States Board of Directors Approves Transactions Totaling More than $1 Billion
Washington, D.C. – The Export-Import Bank of the United States (EXIM) Board of Directors yesterday approved five separate transactions for a total of more than $1.4 billion.
The first transactions of the day were three approvals to support the export of aircraft and spare propulsion equipment to Turkish Airlines. The transactions, which amounted to slightly more than $1 billion, will support the export of Boeing aircraft with expected deliveries beginning in late 2025 and early 2026. The spare propulsion equipment will be exported by GE Aircraft Engines and is expected to be delivered in 2026.
The Turkish Airlines transactions are expected to support an estimated 4,900 jobs across the United States.
The Board additionally voted to approve the renewal of Financial Institution Buyer Credit Insurance (FIBC) policies for Citibank N.A. of London and Credit Agricole Corporate and Investment Bank totaling $400 million. These policies are held by financial institutions and ensure a revolving line of credit to a single foreign buyer, allowing the foreign buyer to make purchases from multiple U.S. exporters and suppliers. The newly renewed FIBC policies will allow Trafigura Pte. to purchase liquefied natural gas, crude oil, and refined oil products from U.S. exporters to sell to customers around the world.
If turned over to the maximum extent possible, the FIBC policies could support approximately 9,800 U.S. jobs, primarily in Texas and Louisiana.
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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