FOR IMMEDIATE RELEASE May 27, 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 Norway’s Ambassador to the United States Kåre R. Aas. The Chairman and the Ambassador discussed the economic impact of the COVID-19 global pandemic and EXIM’s relief measures, the importance of international cooperation and global value chains, and future collaboration opportunities.
During the meeting, Chairman Reed and Ambassador Aas discussed how EXIM and Norway can build on existing work in the aviation sector to support the global economy following the pandemic. Among the follow up items, Chairman Reed’s and Ambassador Aas’ teams will explore co-financing opportunities, possibly in the oil and gas sector, where Norway is a globally-recognized leader and EXIM has extensive experience. Norway’s official export credit agencies include Export Credit Norway (ECN) and the Norwegian Export Credit Guarantee Agency (Garanti-instituttet for eksportkreditt)(GIEK).
Chairman Reed also highlighted EXIM’s historic seven-year Congressional reauthorization, which directs EXIM to establish a new Program on China and Transformational Exports. The program 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.
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.