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US Export-Import Bank Promotes Low-Cost Financing for Lithuanian Businesses Financing for Small and Medium-Sized Businesses Emphasized by Director Jackie M. Clegg

FOR IMMEDIATE RELEASE June 1, 2000

Media Contact Name/Phone: 

Marianna Ohe (202) 565-3200 — USA

Vilnius: The Export Import Bank of the United States (Ex-Im Bank) is working to increase trade between US exporters and Lithuanian businesses of all sizes by offering competitive, low-cost financing for the purchase of US-made goods and services. Ex-Im Bank Vice Chair Jackie M. Clegg is meeting with high-level business, financial and government leaders in Vilnius this week to promote Ex-Im Bank financing.

Ex-Im Bank has made it a top priority to increase its support for small and medium-sized businesses in Lithuania, Clegg said. Ex-Im Bank offers affordable financing terms of less than eight percent to assist in the purchase of US-made goods and services. These competitive rates are often not available through traditional financial avenues.

In the last five years, Ex-Im Bank has supported nearly $17 million in US exports to Lithuania. These transactions are helping Lithuanian businesses obtain the quality goods and services they need to produce products for their domestic and the Central European markets.

Ex-Im Bank is the official export credit agency of the United States. It is an independent federal agency that supports the sale of US goods and services to foreign markets. In fiscal year 1999, Ex-Im Bank supported nearly $17 billion in US exports worldwide.