Readout from EXIM Chairman Kimberly Reed's Meeting with Brazilian Development Bank President Gustavo Montezano
BRASILIA - President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed met early today with Brazilian Development Bank (BNDES) President Gustavo Montezano in Brasilia to discuss the strong U.S.-Brazil relationship, and how the export of U.S. goods and services to Brazil can strengthen and support jobs in both countries.
During the meeting, Chairman Reed and President Montezano discussed EXIM's new Program on China and Transformational Exports (Program), which focuses on ten key industries including 5G and wireless telecommunications, quantum computing, renewable energy, biotechnology, and water sanitation. The Program directs EXIM to provide export financing to directly neutralize export subsidies offered by the People's Republic of China, thereby helping ensure a more level playing field for U.S. businesses and workers as they compete globally. The law charges EXIM with a goal of reserving not less than 20 percent of the agency's totaling financing authority (i.e., $27 billion out of a total $135 billion) for support made pursuant to the program.
Chairman Reed and President Montezano also discussed ways that their respective institutions could coordinate efforts to improve competitiveness and work toward certain important common goals. Chairman Reed and President Montezano discussed the highlights of EXIM's 2019 Report to the U.S. Congress on Global Export Credit Competition, which details the latest trends in export finance.
(L-R): Danilo Romancini (BNDES), BNDES President Montezano, Victor Alexander Contarato Burns (BNDES), Valerie Belon (U.S. Embassy, Brazil), EXIM Chairman Reed, Sabrina Teichman (DFC). Photo taken by EXIM Chief of Staff Ryan McCormack.
Chairman Reed and President Montezano met previously on October 18, 2019, at EXIM's headquarters in Washington, D.C.
Sabrina Teichman, Managing Director for the Western Hemisphere at the U.S. International Development Finance Corporation (DFC) also participated in the meeting, which followed a successful first day of U.S. delegation economic discussions in Brazil. DFC and BNDES agreed to collaborate on water and sanitation and investing in women-owned and women-led businesses.
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.