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ICYMI: EXIM Helps U.S. Exporters with Challenges Stemming from COVID-19

FOR IMMEDIATE RELEASE March 24, 2020

Media Contact Name/Phone: 

Office of Communications (202) 565-3201

“EXIM wants to assure you that we will work to address problems our customers may face as a result of COVID-19. ‘Working Capital Guarantee Program’ provides waivers, extensions, etc. More information on our online fact sheet at https://bit.ly/38VfWLs. #EXIMsupport

(Export-Import Bank on Twitter, March 23, 2020)

“At the recently reauthorized Export-Import Bank of the US (US Exim), action has been swift. US Exim set out a programme of relief measures for US exporters and financial institutions in anticipation of continued effects of the Covid-19 coronavirus outbreak on 12 March.”

The US ECA has extended programme waivers, deadline extensions, streamlined processing and is giving extra flexibilities to its customers initially for 30 days, but that may be extended at US Exim’s discretion in the future. The programmes covered include: the working capital guarantee programme; multi- and single-buyer short term insurance programmes and medium term single buyer insurance policies issued to exporters. A factsheet is published online with further details.”

(“ECAs characters in action: In viro veritas 2,” TXF, March 18, 2020; Read the full story here.)

The U.S. Export-Import Bank says it will hold an open board meeting by teleconference on Wednesday to discuss its responses to the coronavirus pandemic.

(“Export restrictions threaten ventilator availability,” Politico Morning Trade, March 24, 2020; Read the full story here.)

“Are you worried about international #sales due to COVID-19? Export Credit Insurance protects you, reducing the risk of buyer nonpayment and allowing you to commit to export sales without fear of loss. To learn more, take a look at: https://grow.exim.gov/hubfs/ebook/ECI_eBook.pdf

via @EximBankUS

(WebPort Global on Twitter, March 23, 2020)

“The Export-Import Bank on Thursday announced measures to aid exporters and financial institutions affected by the coronavirus pandemic and postponed its annual conference until September.”

(“Ex-Im bank announces coronavirus relief measures, postpones conference,” Inside U.S. Trade, March 13, 2020)

#ICYMI@EximBankUS wants to assure customers that they will work with you to address the problems you may face as a result of COVID-19. More information can be found on our online fact sheet: https://bit.ly/38VfWLs

(U.S. Commerce Dept. on Twitter, March 20, 2020)

“Chairman Reed: I commend @POTUS on his leadership responding to the threat of #COVID19. We stand ready to work with other government agencies and have implemented relief measures for US exporters and financial institutions that may be affected. https://bit.ly/39OcYcJ

(Export-Import Bank on Twitter, March 13, 2020)

EXIM connects resources to U.S. exporters via:

For additional information and updates about EXIM’s response to the crisis, visit the COVID-19 (coronavirus) information page on EXIM’s website or follow EXIM on Twitter and Facebook.

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.