As of February 6, 2014, Ex-Im Bank amended its Country Limitation Schedule (“CLS”) to open in Burma on a limited basis. Ex-Im Bank is open for short-term and medium-term transactions in the public sector. In addition, CLS notes 1, 3, and 13 apply as applicable. Pursuant to CLS note 13, Ex-Im Bank can consider transactions, including long-term transactions, as to which Ex-Im Bank coverage is otherwise closed, provided that the country risk is externalized or eliminated.
Burma Sanctions
On October 7, 2016 the President signed an Executive Order terminating the U.S. sanctions on Burma. Please see the Fact Sheet on this topic issued by the Office of Foreign Asset Controls (“OFAC”). (https://www.treasury.gov/resource-center/sanctions/Programs/Documents/burma_fact_sheet_20161007.pdf)