FOR IMMEDIATE RELEASE April 21, 2020
Office of Communications (202) 565-3201
WASHINGTON – Today, President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed spoke with the Minister of Finance of the Republic of Angola Vera Daves. Chairman Reed and Minister Daves discussed how EXIM’s financial products and services can help U.S. businesses and workers export their “Made in the U.S.A.” goods and services to Angola. This cooperation, through private-sector-led growth, is important for Angola’s economic prosperity, particularly given challenges related to the COVID-19 global pandemic.
In 2019, EXIM and the Angolan Ministry of Finance entered into a $4 billion Memorandum of Understanding (MOU) to increase trade of goods and services between the United States and Angola. Sectors for business development include energy, infrastructure, environmental projects, agriculture, health care, water and sanitation, and telecommunications.
During the call, Chairman Reed and Minister Daves discussed EXIM’s historic seven-year reauthorization, which mandates that EXIM establish a new “Program on China and Transformational Exports” to advance direct exports to countries around the world in the following key areas:
- artificial intelligence;
- biomedical sciences;
- wireless communications equipment (including 5G or subsequent wireless technologies);
- quantum computing;
- renewable energy, energy efficiency, and energy storage;
- semiconductor and semiconductor machinery manufacturing;
- emerging financial technologies, including technologies that facilitate (a) financial inclusion through increased access to capital and financial services, (b) data security and privacy, (c) payments, the transfer of funds, and associated messaging services and (d) efforts to combat money laundering and the financing of terrorism;
- water treatment and sanitation, including technologies and infrastructure to reduce contaminants and improve water quality;
- high performance computing; and
- associated services necessary for use of any of the foregoing exports.
EXIM, which has a congressional mandate to support projects throughout sub-Saharan Africa, also supports Prosper Africa, the Trump Administration’s whole-of-government approach to increase trade and investment between the U.S. and Africa.
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.