FOR IMMEDIATE RELEASE June 27, 2011
Adrian Gianforti, (202) 565-3200
WASHINGTON, D.C. - Trade Finance Magazine recognized the Export-Import Bank of the United States (Ex-Im Bank) the Best Export Credit Agency in the Americas, and granted it several other prestigious awards at its ceremony in New York City last Thursday. Senior Vice President of Export Finance, John McAdams, received these awards on behalf of Ex-Im Bank at the event.
In addition to the Best Export Credit Agency, Ex-Im Bank received awards for Deals of the Year 2010. These deals included; the export of Boeing aircraft to Turkish Airlines; mining equipment to Iron Ore Company of Canada; helicopters to the Trinidad and Tobago coast guard; fire-fighting equipment to Ghana; and the Bank's first step into supply chain finance for CNH America. Ex-Im Bank financing played a crucial role in each of the transactions.
It is recognition such as this that demonstrates our financing products that support U.S. economic growth, said Chairman and President Fred P. Hochberg. The U.S. has the ability to remain the strongest, most innovative economy in the world; the deals we conducted in 2010, and our overall success as an export credit agency, gives U.S. companies the competitive edge in the international marketplace.
Trade Finance Magazine is published by Euromoney Institutional Investor and covers the global trade, export/import, commodity, and supply chain finance markets.
Commenting on the award, Oliver O'Connell, New York-based editor of Trade Finance Magazine, says: The Export-Import Bank of the United States continues to demonstrate its commitment to creating and preserving American jobs through exports by developing new programs and enhancing the tools at its disposal to level the playing field for U.S. companies competing for contracts in overseas markets. This award is a stamp of approval from the export finance community rewarding Ex-Im Bank's willingness to innovate and work closely with its partners to get deals done.
The magazine says the Trade Finance Awards for Excellence, now in its 14th year, is a comprehensive poll of the global trade finance mar ket. Expanded to cover the key economies of the Asia Pacific region in 2006, and the Americas in 2010, not only do the Awards for Excellence reveal which institutions lead by market sector, but also on a country-by-country basis.
The Awards for Excellence is an annual event and is based on a readers' poll. Banks, law firms, insurers, and other market participants, are encouraged to mobilize their clients, partners and contacts to vote for them in the categories most relevant to their business. Voting is conducted through the Trade Finance Magazine website from early April to mid-May each year. Winners receive their awards at annual dinners in New York, London and Hong Kong at the end of June/beginning of July.
Ex-Im Bank, an independent, self-sustaining federal agency, helps create and maintain American jobs by filling gaps in export financing and strengthening U.S. export competitiveness. The Bank has generated $3.4 billion for U.S. taxpayers over the past 5 years.
In the first eight months of fiscal year 2011, Ex-Im Bank approved $20.3 billion in total financing authorizations, supporting $26 billion in U.S. export sales. These sales will support more than 175,000 American jobs in communities across the country. This eight-month authorizations figure is the highest in the Bank's history.
For more information, visit Ex-Im Bank's Web site at //www.exim.gov/.