FOR IMMEDIATE RELEASE December 2, 2020
Office of Communications (202-565-3207)
WASHINGTON – President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed yesterday met with Romanian Ambassador to the United States George Cristian Maior to discuss EXIM’s recent $7 billion Memorandum of Understanding with Romania’s Ministry for Economy, Energy, and Business Climate, and how EXIM can support more ‘Made in the USA’ exports to the country. Chairman Reed also congratulated Ambassador Maior on Great Union Day, which is Romania’s National Day.
Building on her recent discussion with Romanian Minister of Foreign Affairs Bogdan Aurescu, Chairman Reed and Ambassador Maior reaffirmed the United States and Romania’s longstanding close and strategic partnership, including through the role of EXIM in supporting U.S. exports to Romania, the Cernavoda nuclear power plant and railway projects, and growth-generated potential of the Three Seas initiative.
During the meeting, Chairman Reed and Ambassador Maior also discussed EXIM’s new Program on China and Transformational Exports, which directs EXIM to provide financial products to directly neutralize export subsidies offered by the People’s Republic of China, helping to ensure a level playing field for U.S. businesses and workers as they compete globally. The program has the aim of advancing the comparative leadership of the United States and supporting U.S. innovation, employment, and technological standards globally in ten transformational export industries key to U.S. prosperity and security, including 5G, emerging financial technology, renewable energy, biomedical sciences, biotechnology, artificial intelligence, and high-performance computing.
Chairman Reed and Ambassador Maior
On October 9, 2020, Chairman Reed and Romania Minister for Economy, Energy and Business Climate Virgil-Daniel Popescu signed a Memorandum of Understanding (MOU) aimed at enhancing trade and economic opportunities between the two countries. United States Ambassador to Romania Adrian Zuckerman also participated in the signing ceremony, which took place at EXIM’s headquarters in Washington, D.C.
Under the MOU, EXIM and Romania agreed to explore and identify options potentially to use EXIM financing in a total aggregate amount of up to $7 billion, and to identify areas to work together to promote business development opportunities, particularly in the energy and infrastructure 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.