FOR IMMEDIATE RELEASE June 10, 2020
Office of Communications (202) 565-3207
WASHINGTON – President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed met today via teleconference with U.S. Ambassador to Italy Lewis M. Eisenberg.
The Chairman and the Ambassador discussed EXIM’s COVID-19 (coronavirus) relief measures, the economic reopening of both countries, and President Trump’s Memorandum on Providing COVID-19 Assistance to the Italian Republic, which directs EXIM to use available authorities to support the recovery of the Italian economy. Chairman Reed underscored that EXIM stands ready to provide financing tools to support transactions that benefit American’s exporters and workers while also helping Italy, one of the United States’ closest and oldest allies.
During the call, the Chairman and the Ambassador also discussed how EXIM’s new Program on China and Transformational Exports can support U.S. investment in Italy. The program, established in EXIM’s historic seven-year Congressional reauthorization, is intended to help level the playing field for U.S. exporters and workers by directly neutralizing export subsidies for competing goods and services offered by the People’s Republic of China. The program also focuses on supporting U.S. innovation, employment, and technological standards globally in ten transformational export industries, including wireless communications (5G), biomedical sciences, emerging financial technologies, and quantum computing.
Earlier this week, Chairman Reed met with Ambassador of Italy to the United States Armando Varricchio.
Chairman Reed and Ambassador Eisenberg
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.