The Export–Import Bank of the United States has provided $2 million in support for American exports into Bahrain, the chair of the official export credit agency of the United States has said.
Reta Jo Lewis, the president and chair of the Export–Import Bank of the United States (EXIM), told a media briefing during her visit to the kingdom yesterday that this was much below the potential that exists.
“EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans to advance American competitiveness and assist US businesses as they compete for global sales,” she added during the interaction held at the US Embassy in Manama.
“Our mission is to support American job creation, prosperity and security through exporting. We accomplish this by unlocking financing solutions for US companies competing around the globe. We help level the playing field and fill gaps in private sector financing.”
Noting that EXIM currently has about $100 billion available under its $135bn overall financing cap, Ms Lewis said she had meaningful discussions with both public and private sector agencies in Bahrain to explore strategic partnerships for commercial and financial institutions, and support them in their credit offering and mitigating financial risks while carrying out cross-border and long-term transactions.
EXIM authorised $5.9bn in financing and provided critical support to US businesses as they compete around the world.
In FY 2022, EXIM provided small businesses financing of $1.5bn, representing 29.3 per cent of total authorisations.
As many as 1,589 transactions were authorised for the direct benefit of small business exporters, which amounted to 88.3pc of total transactions.
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