Ex-Im Bank loans for turbines to Mexico, mobile network to Jamaica
The U.S. Export-Import Bank has issued a $140.6-million long-term loan to help cover the purchase of three gas-fired turbines by a Mexican power company.
Comision Federal de Electricidad, Mexico’s state-owned electric company, will buy the turbines from Siemens Westinghouse Power Corp. in Orlando, Fla., and Charlotte, N.C.
“Mexico is Ex-Im Bank’s number-one market and the second-largest U.S. trading partner, and this transaction benefits U.S. companies and workers, as well as Mexico’s people,” said bank chairman Philip Merrill in a statement.
Ex-Im Bank also issued a $72.3-million, seven-year loan guarantee to Cable and Wireless Jamaica Ltd. to buy U.S.-manufactured cellular communications equipment from Nortel Networks, based in Sunrise, Fla.
Ex-Im Bank helps finance the sale of U.S. exports, mostly to emerging markets, by providing loan guarantees, export credit insurance and direct loans. In fiscal year 2003, the bank authorized financing to support about $14.3 billion in U.S. exports worldwide.