Ex-Im Bank financing expands
The U.S. Export-Import Bank will now provide short- and medium-term financing for purchases of U.S. exports by public-sector buyers in Laos as well as public and private-sector buyers in Bolivia.
In addition, the bank extended its available financing to include long-term public-sector transactions in Turkmenistan, where it had been open for short- and medium-term public sector financing.
According to Ex-Im Bank, short-term financing is available for up to two years, medium-term for up to seven years, and long-term for as much as 18 years.
The change in status for Laos follows the Obama administration's determination in June 2009 that Laos and Cambodia are no longer considered Marxist-Leninist countries as defined by the 1945 Export-Import Bank Act. Prior to this determination, the bank had been prohibited from providing financing in either Laos and Cambodia.
Ex-Im Bank had announced in October that it's open to provide short- and medium-term financing for purchases of U.S. exports by private-sector buyers in Cambodia.
The bank also can consider financing arrangements for U.S. exports to private-sector buyers in Laos, Bolivia and Turkmenistan on longer repayment terms under certain conditions. Examples of potentially acceptable transactions include structured-finance transactions with non-domestic revenue sources, and asset-backed lease and financing structures for equipment exports such as U.S.-manufactured commercial aircraft, Ex-Im Bank said.
Ex-Im Bank financing expands
