Finance available for U.S. exports to Iraq

Finance available for U.S. exports to Iraq       The U.S. Export-Import Bank has opened in Iraq to help finance short- and medium-term sales of U.S. exports to Iraqi buyers in the public and private sectors.
      “Iraq’s economy is growing, offering specific opportunities for U.S. exporters in a variety of industries,' said Bijan R. Kian, a bank board member, in a statement. 'Ex-Im Bank can help by reducing the repayment risk, especially for small businesses at this time.”
      Ex-Im Bank can provide export-credit insurance, loan guarantees and direct loans for creditworthy export sales to Iraq. Short-term insurance is available for transactions with repayment terms of 180 days or less, and up to 360 days for capital goods. Medium-term insurance, loan guarantees and loans are available for transactions with terms of up to seven years.
      The bank’s working capital guarantees, which help U.S. exporters or their suppliers to obtain funds to produce or buy goods or services for export, are available to support exports to Iraq.
      The bank said it would 'consider providing long-term support where there are financing arrangements that eliminate or externalize country risks, such as asset-backed financings and structures that earn revenues offshore in a third country.'