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EXPORT-IMPORT BANK VICE PRESIDENT MEETING WITH DOMINICAN REPUBLIC OFFICIALS AND BUSINESS LEADERS TO PROMOTE TRADE

FOR IMMEDIATE RELEASE November 17, 2002

Media Contact Name/Phone: 

Ken Murphy (202) 565-3200 (USA)

Export-Import Bank of the United States (Ex-Im Bank) Vice Chairman Eduardo Aguirre will meet with high-level government officials and business leaders during a two-day business development visit to the Dominican Republic November 18-19, 2002 in an effort to promote trade between the two countries.

In fiscal year 2002, the Dominican Republic was Ex-Im Bank's second largest market worldwide. Ex-Im Bank authorized $788 million in financing for projects that include: medical equipment, telecommunications, oil & gas, electricity, transportation, environmental, and manufacturing equipment and services.

Ex-Im Bank is interested in working with government and businesses in the Dominican Republic to address a significant increase in demand for our financial services, Aguirre said.

Earlier this month, Ex-Im Bank approved a $1.7 million comprehensive insurance guarantee that is helping Centro Materno Infantil, a hospital in Santiago, purchase medical equipment from a U.S. exporter in Miami, Florida. The equipment will help Centro Materno Infantil expand pediatric services.

Ex-Im Bank began financing exports to the Dominican Republic in 1940 with a $3 million sale of U.S.-made agriculture and manufacturing equipment. 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 2002, Ex-Im Bank helped finance nearly $13 billion of U.S. exports worldwide.